If you’re unsure of what conveyancing is, simply continue reading to discover what conveyancing is and why you may need to hire a lawyer in order to help you file conveyance documents in the future.
The term conveyancing refers to when a lawyer prepares legal documents for the legal transfer of a property from one owner to its new owner.
If you plan on selling the property which you currently live in, in the future, you’ll need to hire a lawyer in order to create the neccessary conveyance documents to legally transfer the ownership of your home from yourself to the next owner of your home.
During the conveyance process you won’t be required to fill out any forms as your lawyer will take care of handling all of of your conveyance forms with the help of your home’s new buyer’s lawyer. As when a house is sold both parties involved will need to hire their own lawyers in order to formalise the legal sale of a house.
What are your lawyers responsibilities during the conveyance process of selling or purchasing a home:
As well as writing up the necessary legal documents for the transfer or your home, your lawyer will also be responsible for ensuring that both parties meet all of the legal obligations which have been outlined in your purchasing agreement.
As an example, when you write up and negotiate a contract for the sale of a home, you may request that your lawyer stipulates that your offer to purchase a home is conditional on your current home being sold.
In this case, when your lawyer handles the conveyance procedure of the transfer of your new home from the previous owner to your name, your lawyer will ensure that you’re not pressured to follow through on your contact, until you have successfully sold your home. As stated in your purchase contract.
At the same time the other party, involved in the transfer of your property will also have a lawyer working for them in order to ensure that you and your lawyer also meet all of the obligations which were agreed to in your purchase contract.
Does a real estate agent have any involvement in the conveyance process?
Your real estate agent sometimes will act as the go between or middle man between your lawyer and the other party’s lawyer. Although in many instances both lawyers will communicate directly with each other in order to speed up the transfer of property between both parties involved. However, even in this case your shared real estate will continue to keep both you and the other party involved, kept up to date with your lawyers’ progress.
When does the conveyance process formally end?
The conveyance process doesn’t end officially until the new owner of a home is given the keys of the property which is being transferred from one home owner to another.
So, hopefully after reading the guide to conveyance outlined above, you are now clear about how the conveyance process works.