What is the purpose of a "master deed"?

The purpose of a "master deed" is pivotal in establishing a condominium development. This document serves as the foundational legal instrument that delineates the overall framework for the condominium, including the specific boundaries of the development, the common areas, and the rights and responsibilities of both the developer and the individual unit owners.

While the conveyance aspect included in the correct answer captures the essence of transferring ownership to the condominium developer, it also implies the creation of a legal structure that governs the association of those individual units. The master deed ensures that everyone involved in the condominium understands their rights and obligations, both to their individual units and to the common property that all owners share.

The other options relate to property rights and ownership but do not accurately define the comprehensive role of the master deed in a condominium context. For instance, outlining rights in a subdivision or representing ownership of individual units would pertain to different types of real estate arrangements and documents.