What is the purpose of a conveyance in real estate?

The purpose of a conveyance in real estate is to transfer a grantor's interest in real property. This process involves the legal act of transferring ownership or an interest in the property from one party (the grantor) to another (the grantee). Conveyancing is a critical aspect of real estate transactions, as it establishes who has legal rights to the property and outlines the terms under which this transfer occurs.

During the conveyance, various documents such as deeds, titles, and contracts are prepared and executed to ensure that the transfer is legally binding and recognized by law. This process also typically involves due diligence, where both parties may conduct title searches or obtain other relevant information about the property being transferred.

By successfully executing a conveyance, the grantor relinquishes their interests in the property to the grantee, thereby allowing for a smooth transition of ownership. This is a foundational concept in real estate, as ownership rights are central to property law and transactions. While leasing, preventing fraud, and evaluating market value are important aspects of real estate practices, they do not encompass the primary function of a conveyance, which is fundamentally about the transfer of ownership.