what is conveyancing

what is conveyancing

1 year ago 53
Nature

Conveyancing is the legal process of transferring the ownership of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. It is a branch of law that specifically relates to the legal side of moving home. The conveyancing process typically involves two major phases: the exchange of contracts and completion (also called settlement), when legal title passes and equitable rights merge with the legal title. Conveyancing is usually done by a solicitor or a licensed conveyancer. The process involves the transfer of a piece of land or property, which may or may not include the principal dwelling, and might include an orchard, any outbuildings, and curtilage if present.

When buying or selling a house, you will need a conveyancer or solicitor to complete the conveyancing process, so that legal ownership is transferred from one person to another. A conveyancer is a property lawyer that specializes in the legal side of moving home. They can review contracts, advise on your requirements and obligations, and ensure that all necessary documents are in order. A conveyancer will do slightly different things depending on whether you are buying, selling, or both. For example, when selling, you will only need to appoint a conveyancer. Your conveyancer will create a contract pack which includes the contract, title, an official plan, and information about what is included with the sale and will liaise with your buyers’ solicitor.

Conveyancing is an important process because it finalizes the transfer of ownership of real property from one party to another. The process is done using an instrument of conveyance, usually a deed, lease, or contract, which transfers the legal title to the new owner and finalizes the lien on the property. Conveyancing can help ensure that the transaction runs smoothly and that any potential issues or disputes are resolved quickly. Engaging a conveyancer can provide peace of mind that your property transaction is being handled correctly and in accordance with the law, which can help to reduce stress and anxiety associated with buying or selling property.

Read Entire Article