How did mancipatio formally transfer property in early Roman law?

In early Roman law, mancipatio was a formal ceremonial conveyance used to transfer specific types of property known as res mancipi.12

The process required the presence of both the transferor and the transferee, five adult male Roman citizens as witnesses, a pair of scales, a person to hold them, and an ingot of copper or bronze. During the ceremony, the transferee grasped the object being transferred and declared, “I assert that this thing is mine by Quiritarian law; and let it have been bought by me with this piece of copper and these copper scales”. The transferee then struck the scales with the ingot and handed it to the transferor “by way of price” to complete the transfer of property.2