What is Conveyancing and what are the options?
Conveyancing is the process of legally transferring property from one person to another. The actual 'conveyancing' process takes place after the sale of the property. At first glance the process appea...
Conveyancing is the process of legally transferring property from one person to another. The actual 'conveyancing' process takes place after the sale of the property. At first glance the process appears to be simple. This is not necessarily so. There are strict legal and procedural requirements for property transfer. The degree of complexity of the process can depend on whether the property is free from any interests or there are taxation or liability considerations involved.
Completing the conveyancing process smoothly involves transferring the property without third party interest or claim. Banks and mortgage companies or can hold legal claim to the title of the property. In the case of business transactions, property can be used as collateral to secure a loan. Doing the necessary background checks to make sure the property is free of any registered interests is an important part of the conveyancing process.
There are several different options for the conveyancing process. Often, the real estate agents recommend services or legal personnel they are familiar with. Since the advent of the internet, however, online conveyancing companies are becoming a more popular choice for individuals who want to complete the process digitally. The modern convenience afforded to by dealing exclusively online can save time and money.
DIY conveyancing kits are another option for conveyancers who want to get their hands dirty. Kits can start for as little as $100. Some of these kits provide backup telephone service that you can refer to if you run into difficulties during the process. If you are going to attempt to do the conveyancing process yourself, you need to be fully aware of all the legal and procedural requirements. If you do not complete the documentation correctly, it can substantially delay the title transfer.
Conveyancing solicitors are a more costly option but can provide legal recourse if negligence or fidelity issues become a concern during the transfer process. If you have more complex issues such as taxation or will entitlements to deal with, the additional funds invested in a professional service can save you headaches and valuable time.
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