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Conveyance Conveyance is the term used to describe the process by which the legal title to a piece of property is transferred from one person to another. The process, normally designed in conjunction with a system of land registration, serves to ensure that the person selling the property has the right to do so and that the buyer secures clear rights to the property and has notification of any restrictions on use of the property in advance of the final purchase. Although processes may vary from state to state within the United States, typically the buyer makes an offer to purchase the property often accompanied by a deposit. The offer will have options for withdrawal but if the sale proceeds a "closing" will be held, typically at the mortgage company or in a lawyer's office, at which time all the applicable legal documents are signed and the transfer of the property's title is made. More terms explained |
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