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5 things About Conveyancing

Not all buyers or sellers for that matter are aware of the legal process of sale and purchase of property in other words conveyancing. This process has often been taken to be a tedious task hence left in the hands of a few individuals in the name of specialists. The conception that this process can only be carried out with the help of conveyancers has sometimes led to ignorance and sometimes regrettable repercussions in the event of buying or selling property. An effort to gain some knowledge, even if in the most skimpy form is important and will go a long way in promoting security during property transfer.

What is conveyancing?
Conveyancing is an official process of transferring the legal entitlement of property from one person to another.

2. Who are conveyancers?

These are specialist licensed by law to handle the legal element of the sale or purchase of property. Different countries have different bodies that regulate conveyancers. In the UK for instance, they are regulated by The Council for Licensed Conveyancers.

3. Difference between a conveyancer and a solicitor?

A conveyancer’s training and experience is limited to handling only property matters. On the other hand, a solicitor is a licensed who is in a position to give full legal services that are not limited to property matters. Sometimes solicitors are preferred because of their high skill level but this entirely depends on the complexity of the conveyancing process and as well the kind of property in transfer.

The Search
Normally, even before the start of a transfer of property begins, a search must be carried out. This involves finding out vital information surrounding property set for sale that may affect the process or the buyer in the long run. Such information includes but is not limited to:

i. Ownership of the said property – the seller must be the legal owner of the property in order to sell or let it.

ii. Encumbrances on the title – sometimes a mortgage may be attached to the title and must be cleared with or removed before sale.

iii. Restrictive covenants on the title – some areas’ regulation place restrictions on property which may limit its use or expansion or adjustment.

Changing a conveyancer after work has begun?
This is perhaps the worst hassle a buyer may have to go through in addition to the already daunting process of property transfer. Every buyer wishes that that he never gets to this point although it happens for some people.

Getting a new conveyancer to take up the transaction may not be easy but can be a savior in the long run. If you are utterly dissatisfied with your current conveyancer, it is advisable to find a way of solving the issue at hand. Changing to anther may have to be the last resort for a buyer.

An important tip is to get a conveyancer who can take over and seamlessly carry on from where the previous one left. Also engage the new conveyancer to ensure that every detail and questions you have on the handover is taken care of.