New York Real Estate Salesperson Exam 2025 - Complete Practice Guide

The term "conveyance" is the correct answer because it specifically refers to the legal process involved in the transfer of ownership of real property from one party to another. This process includes various legal formalities such as the execution of a deed, which must conform to state laws to ensure that the transfer is legally recognized. In real estate, conveyancing is essential as it encompasses the entire progression from the contract of sale to the actual transfer of title, making it a critical part of real estate transactions.

Other terms, while related to property and ownership, do not accurately capture the legal specificity of the process. "Title Transfer" often refers to the outcome of the conveyance rather than the process itself. "Transfer of Ownership" is a more general phrase that could apply to various scenarios and does not specifically denote the legal procedures involved. "Property Exchange" suggests a barter or swap of properties, which is a different concept from the unilateral transfer of ownership typically involved in conveyancing. Thus, "conveyance" is the precise legal term that describes this transaction process.