Washington State Real Estate Practice Exam

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What is the term for transferring ownership of real property from one party to another?

Conveyance
Transaction
Assignment
Transfer of Title

The correct answer is: Conveyance

The term for transferring ownership of real property from one party to another is "conveyance." In real estate, conveyance specifically refers to the legal process through which the title to property is transferred from one individual or entity to another. This process typically involves the preparation and execution of legal documents, such as a deed, which formally reflects the change in ownership and is recorded in the appropriate government office to provide public notice of the transaction. While the term "transaction" could broadly apply to any transfer of property, it does not specifically denote the legal mechanism of transferring ownership. "Assignment" generally relates to the transfer of rights or benefits under a contract rather than an ownership interest in real property. "Transfer of Title" describes the end result or process of having ownership transferred, but it does not specifically name the legal process itself. Therefore, within the context of real estate terminology, "conveyance" is the most precise and accurate term for the ownership transfer process.