The purpose of engaging the service of the conveyancer is to ensure that the buyer or the seller of the legal property is getting the marketable title to the land. The term is used for the specialist lawyer who deals with the buying or selling of the legal property. He can also be a certified conveyancer approved by the Council for Licensed Conveyancers. The main duty of the conveyancer is setting of the entry standards. He undertakes the legal formalities involved in property dealing.
Conveyancing is a complex process and it may require services of a specialist. It mainly consists of two major landmarks specified by the law:-
- The procedure of exchanging of contracts – where basically the title equitable is passed.
- Completion – where ultimately the legal title is passed.
You can also act as a conveyancer on your own and it will let you save thousands of pounds. But you should also be prepared to undertake the stress and anxiety associated with it.
Legal conveyancing is done by the conveyancer in 3 steps which are mentioned as follows:-
- Before contract
- Before completion
- After completion
The system related to this is mainly designed to ensure that the buyer secures all the legal rights related to the property.
In the United Kingdom, conveyancing involves the following steps:-
- Conducting title search for retrieving all documents related to the history of the real property. Inquiring if any legal debt or dispute attached to it or whether they are paid etc.
- In terms for encumbrances, checking title history and all other property restrictions.
- Ensuring that the special conditions in the contract are met and no problem occurs legally.
- Preparing the legal documents to establish buyer’s rights over the property.
- Ensuring the land taxes, stamp duty and other government dues are paid at the time of completion of the deal.
- Processing legal documents as per the standards required for formally executing the documents.
- Preparing documents and informing the lender accordingly when the papers related to the property are in order.
- Supervising the payment procedures and bank transactions on behalf of the appointed party.
Legal conveyancing is an essential part of property dealing. It is important to rightfully establish your legal rights over the property title and to avoid any disputes in the future. Depending on the nature of conveyancing services offered the conveyancer’s fees may vary between individuals. Often very little transparency is maintained by them when disclosing their costs. So, you would need to be upfront in asking for a proper breakdown of his charges. It is still better to get few quotes before finalising on one.