If you are thinking about buying a home or another type of property in Victoria, then conveyancing is probably a term you come across. Conveyancing is the legal process of transferring a title deed from a precious owner to your name. You need a solicitor or a conveyancer to handle this process, as it involves some delicate legal questions. Property agreements are very complex and are hard to understand for people who do not practise property law. So, when you are about to buy a property in the state, you should approach the process knowing what conveyancing is at least in general.
Conveyancing and Conveyancers
As mentioned above, conveyancing is the legal process of transferring property certificates Victoria from one owner to another. This process should be handled by a conveyancer, who is a licensed professional authorized to handle these types of transactions. Sometimes, solicitors also act as conveyancers. The conveyance would advice you on the best way to handle the process, and will also prepare and lodge the necessary documents on your behalf.
A conveyancing transaction is not a quick and short process. It’s a process that spans before a contract is signed, after a contract is signed, and after documents have been lodged. These are called the three stages of conveyancing. It involves a lot of paperwork that a layperson cannot handle alone.
When to Hire a Conveyancer
You obviously don’t need a conveyancer for everything involved in a property transaction. But you will need a conveyancer when selling or buying new property in Victoria, when updating a property title like after an owner’s death, when dividing land, or when an easement needs to be changed, removed, or registered. You will need to hire a conveyancer in the state where the property is located.
What Conveyancers Do
What a conveyancer does will depend on whether you are the buyer or the seller. If you are the buyer, the conveyancer will prepare the legal documents needed for the transactions, such as contracts and transfer memorandums. The Victoria government sometimes requires documents to be verified and certified. A conveyancer would do that. Conveyancers also research certificates of titles of property for legitimacy and other issues such as easements. So you can be assured that the transaction is legitimate. The conveyancer would also handle some financial aspects of the transaction, such as calculate taxes and put advance fees and such in a trust. The conveyancer would also act on the behalf of the buyer is certain legal situations.
If you were the seller, the conveyancer would make sure that all legal documents are properly prepared. A conveyancer can represent the seller to a buyer. If the buyer sends requests such as for title deeds, then the conveyancer can answer these questions on the seller’s behalf. The conveyancer can act in the best interest of the seller during the transaction.
Hiring a Conveyancer
You should not assume that all conveyancers are equally qualified. As you would choose the best lawyer for a case, you should also choose a good conveyancer to represent you in a property transaction. When hiring a conveyancer, pay attention to reviews, recommendations and referrals. Make sure the conveyancer’s slate is clean and that the person is legitimately allowed to practise the trade in your state.
Now that you know what a conveyancer is and what this professional can do, you can handle your real estate transaction more knowledgeably.