Final answer:
D. Both 1 and 2 are correct. the correct answer is that both 1 and 2 are accurate in defining the term "conveyance." The term's definition isn't limited to just one type of property, extending its application to both personal and real property transactions, as stated.
Explanation:
The term "conveyance" encompasses both personal and real property transactions. In the legal context, it refers to written instruments used to create, transfer, mortgage, or assign any estate or interest in both personal and real property.
Personal property includes movable items like cars, furniture, and jewelry, while real property refers to land and anything permanently attached to it, such as buildings or structures. Therefore, the term "conveyance" covers a broad spectrum, including transactions involving both personal and real property, making both statements 1 and 2 correct in their assertions.
Conveyance is a legal term that has a wide scope, encapsulating various types of property transactions. It applies to the transfer, creation, or assignment of rights or interests in both personal belongings and real estate. This inclusivity reflects the comprehensive nature of legal instruments used for property dealings.
Hence, the correct answer is that both 1 and 2 are accurate in defining the term "conveyance." The term's definition isn't limited to just one type of property, extending its application to both personal and real property transactions, as stated.