Who holds the authority to convey ownership or leasehold interest in real estate?

The owner holds the authority to convey ownership or leasehold interest in real estate. This is rooted in the fundamental principle of property rights, which grants the person who owns the property the exclusive right to transfer that property to another party.

In real estate transactions, the owner has the legal title and, therefore, the ability to execute deeds or leases that formally transfer ownership or rights to use the property. This includes selling the property or leasing it to tenants, as only the owner has the legal standing to make such decisions.

While brokers and agents often facilitate these transactions and may act on behalf of the owner, it is ultimately the owner who retains the power to convey an interest in the property. Licensees also operate under the authority of the owner but do not possess the inherent ownership rights needed to convey real estate. Appraisers, on the other hand, are professionals who assess property value but have no authority regarding the transfer of ownership or leasehold interests.