In real estate terms, what is "disposition"?

The term "disposition" in real estate refers specifically to the act of selling or transferring ownership of property. This process involves various legal and financial steps, including the negotiation of terms, drafting of contracts, and ensuring the proper transfer of title from one party to another. Understanding this term is crucial for those involved in real estate transactions, as it encapsulates a significant event in the life cycle of property ownership.

The act of upgrading property features pertains more to the enhancement or renovation of a property, which is focused on improving value rather than transferring ownership. Renting a property involves leasing and does not imply a change in ownership, while the evaluation of property taxes relates to assessing the value for taxation purposes, which is not connected to the transfer of ownership.