What does "conveyance" refer to in a real estate context?

In real estate, "conveyance" specifically pertains to the transfer of title or ownership of property from one party to another. This process is crucial in real estate transactions as it involves legally documenting and facilitating the change of ownership, which can occur through various means such as sales, gifts, or inheritance. It ensures that the new owner has the rightful claim to the property, including all associated rights and responsibilities. Understanding conveyance is essential for anyone involved in real estate, as it pertains to the legal aspects of property ownership and the necessary documentation to finalize a real estate transaction successfully.

The other options do not accurately define "conveyance" in a real estate context. A lease agreement focuses on the rental and use of property rather than ownership transfer, obtaining financing is related to securing funds for purchase rather than the act of transferring title, and negotiating a sale price pertains to the financial aspects of the transaction, not the legal transfer of ownership itself.