Idaho Real Estate Practice Exam

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

1. Deed transfer

2. Property listing

3. Equitable title

4. Title assurance

The correct answer is: Deed transfer

The term that accurately describes the process of a seller transferring their property ownership to a buyer is referred to as a deed transfer. This process involves the seller executing a deed, which is a legal document that conveys title to the property, ensuring that ownership is formally passed to the buyer. The deed contains important information such as the names of the parties involved, a description of the property, and the intention to transfer ownership. In this context, property listing pertains to the process of putting a property on the market for sale, not the transfer of ownership itself. Equitable title refers to the interest held by a buyer after they have made a purchase agreement but before the legal deed is transferred, reflecting a stake in the property without full legal title. Title assurance typically involves measures to confirm that a title is clear of claims or liens and does not directly refer to the transfer process. Therefore, deed transfer is the most appropriate term for the action of transferring property ownership from seller to buyer.