Which of the following best defines a "transfer of ownership"?

The best definition of a "transfer of ownership" is the conveyance of title or present interest in a property. This concept encompasses not just the act of selling property, but any situation where ownership rights are transferred from one party to another. When someone conveys title, they are legally transferring their rights and interests in the property, which signifies a permanent change in ownership.

In contrast, while a sale of property is a common instance of a transfer of ownership, it is just one of many ways ownership can be transferred; therefore, it doesn't broadly cover all scenarios. A lease agreement does not involve transferring ownership, as it typically grants temporary possession or use of property without transferring title. Similarly, a temporary use of property is not a transfer of ownership; it allows for usage rights but retains ownership with the original titleholder. Thus, the most comprehensive and accurate definition of "transfer of ownership" is the conveyance of title or present interest in the property.