Conveyance

Conveyance is the process of passing title, ownership or interest in real (land) property from one person to another by a document, such as a deed, lease, or mortgage.

Conveyance also refers to the written instrument, such as a deed, lease, appointment, settlement, assignment and other assurances and covenant that transfers legal title of a property from the seller to the buyer. The term arises most frequently in real estate, where a conveyance refers to the written contract between the seller and the buyer stating the agreed-upon purchase price and the date of actual transfer, as well as the obligations and responsibilities of both parties.

A conveyance is a contractual agreement, which means that both parties (the buyer and the seller) are legally bound to fulfil their legal obligations. If either of the party fails to abide by the contract, the other can sue the defaulting party in court and claim or pray for an order of court to enforce the contract or claim damages.

Conveyancing ensures that the buyer is aware of any forms of encumbrance on the property such as mortgages and liens, and assures the buyer of clean title to the property.