You might be familiar with the term conveyancing but may not know exactly what it means or what the role of a conveyancer encompasses. Sometimes the buying and selling of property and the subsequent transferring of property titles can become a complex process. This can be especially true when dealing with high-end real estate or property that has special provisions attached to its title. Firms that offer conveyancing in Melbourne exist to assist buyers and sellers of property with the complexities of the process and make proceedings as streamlined and clear as possible. This article will explore the vital role conveyancing lawyers play in the property transfer process as well as what the process involves.
What Exactly is Conveyancing?
In its most simple form, conveyancing in Melbourne is the process of transferring the title (legal ownership) of a property from one person to another or from a business entity to another business entity. While the settlement process of either buying or selling property can be exciting for both parties, depending on the conditions of the contract as well as any conditions on the property itself, settlement can be complex. A conveyancer will handle delicate administrative and legal tasks in order to ensure the sale goes through smoothly and neither party will be liable for any legal disputes in the future.
What is a Conveyancer?
Conveyancing in Melbourne is handled by a conveyancer or conveyancing lawyer. While they typically perform the same or similar tasks, there is a distinction between the two. A conveyancer is a licensed professional who can provide advice on the buying and selling of a property, subdividing land and the transfer of a title from one person to another. However, they can’t provide legal guidance or perform tasks that may cross into the legal realm. A conveyancing lawyer, on the other hand, can perform all of the same tasks that a general conveyancer can, except they’re qualified and allowed to provide clients with legal advice as well as handle any legal matters that may arise during the conveyancing process.
What Does a Conveyancer Do?
Conveyancers oversee the settlement process for the sale of any property. While this may seem simple on the surface, the process of settlement actually involves some complex and time-consuming tasks.
For instance, there is a lot of tedious paperwork laced with complex legal jargon that has to be executed in order to finalise the sale or purchase of a property. While you might think you could sift through these documents on your own, the average person will simply become overwhelmed and confused by which specific documents must be prepared and in what order they need to be lodged. Professionals that offer conveyancing in Melbourne can easily prepare, clarify and lodge any outstanding legal documents. More than that, they can also complete more nuanced tasks such as researching and verifying the property title, moving the deposit money into a trust account, ensuring calculations for any rates and taxes are accurate, and acting as a mediator between real estate agents, buyers and sellers alike. Conveyancing lawyers can also arrange the settlement of the property itself and ensure all legalities are taken care of.