Final answer:
The renal process of selectively removing molecules from the tubule lumen and transferring them into the bloodstream via the peritubular capillaries and vasa recta is known as tubular reabsorption.
Step-by-step explanation:
During the renal process where molecules are selectively removed from the tubule lumen, moved into the interstitial space, and removed from the kidneys by the peritubular capillaries and the vasa recta, the process that is being described is known as tubular reabsorption. This process is vital for reclaiming water and solutes that were initially filtered out in the glomerulus. Reabsorption primarily occurs in the proximal convoluted tubule (PCT) and the loop of Henle, where solutes like glucose, amino acids, and sodium are actively and passively transported back into the bloodstream. Any excess solutes and wastes not needed by the body are left behind in the filtrate, which then undergoes tubular secretion and eventually excretion as urine.