What is the process of transferring the title of real estate from one party to another called?

The process of transferring the title of real estate from one party to another is known as conveyance. This term specifically refers to the legal act of moving property ownership, ensuring that the title is properly executed and recorded to reflect the change in ownership. Conveyance involves various steps, including the preparation of a deed, which is the legal document that officially transfers the title. It is essential for establishing the rights of the new owner and protecting their interest in the property.

While transfer of equity, assignment, and novation are related concepts in real estate and contractual law, they do not specifically pertain to the transfer of real estate title. Transfer of equity usually refers to the process of a party transferring a portion of their interest in the property, often in situations involving joint ownership. Assignment typically deals with transferring rights or interests from one party to another in the context of a contract, without necessarily transferring ownership of real estate itself. Novation involves replacing one party in a contract with another, effectively creating a new agreement. Hence, conveyance is the accurate term for the transfer of real estate title.