Australian Property Updates

Property Information & Real Estate Updates

How conveyancing works?

Perhaps one of the most daunting tasks in a big city is to find a suitable place to stay. There are so many questions to ask yourself before you can finalize upon that one place that you decide to make a home. Your budget, preferred location in the city, the neighborhood, the accessibility to other parts of the city and the nearby amenities that can be availed, are just some of the factors taken into consideration in the search for home and happiness. Once you have finalized a place that meet all or most of your expectations and needs, another big challenge comes your way to finalize the buying process. While most people are somewhat an expert in searching a suitable home for them, almost all of them find themselves at sea in arranging the entire document and completing the registration process. Here is where a conveyancer comes into the horizon, with all the expertise and professional experience to handle the ownership transfer process.

The need of a conveyancer

Among the big cities in Australia, where real estate is high on demand, in the art of conveyancing Brisbane is quite popular, with more and more people seeking their legal advice and assistance in completing the buying and selling of properties with any hassles and headache. Big cities especially have a lot of real estate crunch and buying and selling of residential properties is always bullish, with more and more people populating the city, in pursuit of their dreams and aspirations. Finding a conveyancer is no mean task in places like these. While word of the mouth from friends, family and relatives go a long way in referring conveyancer, the advertisements in the Internet can provide a lot of detailed information too, in understanding which conveyance suits you the best. Hiring a conveyance, though not a mandate, goes a long way in helping out the buyer and the seller with the technical details of the laws and regulations associated with transferring the ownership rights from one person to the other, which most people are not aware of. A licensed conveyancer need not necessarily be a lawyer but solicitors often take up this responsibility.

The process of conveyancing

In the process of conveyancing, there are two typical phases that a buyer has to go through. The first one is the exchange of contracts, where the equitable title passes from the seller of the property to the buyer. Once this done, the next stage is the completion, where the legal title is passed. These phases are accomplished in a conveyancing process by three stages, viz. before contract, before completion and after completion. The entire purpose of conveyancing is to ensure that the buyer of the land of property is transferred the entire ownership of the land along with the rights associated with it, and a complete understanding of legal bindings, if any, before the purchase is made. In addition to transferring ownership of a land or property from one person to the other, the process of conveyancing also looks into matters like dividing a land among more than one owner, updating the title of the owner, in case of death of the original owner, for example and registering the right to use a land for some specific purpose.