I've looked at the states conveyance tax law and can't find a grey enough area that this would fall under. 

Hi All,To all you accountants out there - My understanding of the implications are basically as follows;From the buyers side, they avoid some of the costs (e.g. conveyance) as there are just legals.

I have had an inspection completed, but before I ask for repairs I want to discuss the furnishings that the selling is willing to convey.

If they conveyed what the offers were in writing, I would have at least an opportunity to outbid on this cash sale and the property owner would have an opportunity to receive more than the value of the property.

@Ali Kattan, In a typical land contract deed does not convey until all of the payments have been made. 

Leases in FL automatically convey to the new owner (not sure about SC). 

This also raises question of did seller know what they were conveying about tenants leaving for sale was not legal, and were misrepresenting on purpose to give false confidence for you?

We have brought it up with the seller's agent to convey it back to the seller.

As a trust company, we administer lots of Title Holding Trusts (Land Trusts) and I can tell you that an assignment of a beneficial interest in a Title Holding Trust (Land Trust) in most jurisdictions is considered to be a conveyance of title just like you recorded a deed. 

Was it a single family home being conveyed to a 2 Flat?