Final answer:
A lease is the contract that conveys the right to possess real property without transferring title. It allows tenants to use the property for a set period, but the ownership remains with the landlord.
Step-by-step explanation:
Absolutely correct. The statement that identifies the contract conveying the right to possess real property without conveying title as "B. a lease" is accurate. A lease is a legal agreement that grants the lessee (tenant) the right to use and occupy a property for a specified period, subject to agreed-upon terms and conditions. Importantly, despite the possession rights, the legal ownership or title to the property remains with the lessor (landlord).
In contrast, options A and D, a bill of sale and a quitclaim deed, are instruments used to transfer ownership interests in real property. Option C, a dedication, involves transferring property for public use. Understanding these distinctions is vital in real estate transactions and legal agreements involving the use and transfer of property rights.