Which term refers to the process of transferring ownership of a property?

The term that refers to the process of transferring ownership of a property is "conveyance." This legal concept encompasses the transfer of title from one party to another and is a fundamental aspect of real estate transactions. Conveyance involves the specific steps, documentation, and legal requirements necessary to ensure that ownership rights are properly transferred, which may include preparing a deed, executing it, and recording it with the appropriate governmental authority.

Understanding conveyance is crucial for loan officers and real estate professionals, as it directly impacts the legitimacy of property transactions. In contrast, escrow is a process where a neutral third party holds funds or documents until all conditions of a sale are met, while amortization refers to the gradual repayment of a loan through scheduled payments that include principal and interest. Underwriting pertains to the evaluation of loan applications to determine the risk involved in lending money to a borrower. Therefore, while these other terms are relevant to real estate finance, they do not specifically denote the ownership transfer process as "conveyance" does.