What do we call the process of legally transferring ownership of property?

Prepare for the Alabama Post-License Salesperson Exam. Utilize flashcards and multiple choice questions with hints and explanations. Ensure your success on the exam day.

The process of legally transferring ownership of property is known as property conveyance. This term encompasses all the legal actions and documentation necessary to move ownership from one party to another. Conveyance involves several steps, including the preparation of legal documents, such as the deed, and often includes recording the transaction in public records to ensure legality and to provide notice to third parties.

Title transfer and transfer of deed are terms that are often understood in the context of conveyance, but they are not as comprehensive. Title transfer specifically refers to the act of moving title, while transfer of deed focuses on the document itself. Ownership exchange is a more generalized term that does not capture the legal and procedural aspects required for the formal and lawful transfer of property rights.

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