Property lines: The process of conveyancing

The mere sound of the word might make some people feel overwhelmed, and with "conveyancing" referring to legal matters it's possible that some could feel doubly daunted. Don't despair though; a few basic facts should set you well on your way to understanding this key topic. The term conveyancing actually originated in England. By definition, it simply refers to all legal processes relating to the transfer of ownership of real property. With Conveyancing Buddy, your best mate in understanding conveyance law and how conveyancing works, you should decipher the topic in no time.

Conveyancing: A summary

Whether you are buying or selling a property, it's one of the biggest financial investments you can make and you'll need the services of a conveyancer or solicitor specialising in conveyancing to ensure that all the legalities are covered. Conveyancing handles the following issues:

• Transferring part of the ownership of a property
• Transferring property pursuant to a marriage break-up
• The gifting of property through a will
• The purchase and sale of land and houses

Once upon a time, conveyancing was only carried out by solicitors, but since the "Conveyancers Licensing Bill" of 1992 and "New Act" of 1995, a conveyancer can act independently, as an alternative to a solicitor.

Opting for a conveyancer

Conveyancers have to be licensed by the Department of Fair Trading to practice conveyancing in NSW, and they can offer you an affordable alternative to using a solicitor when buying and selling property. They will process the application and handle everything right through to the completion (settlement) on their clients behalf.

Settlement normally takes place approximately four to six weeks after the exchange of contracts and the conveyancer will pay over the balance of funds, take receipt of the title transfer documents and the Title Deed and then issue the new Title Deed, noting the new owner, within a couple of weeks. They also issue the certificate guaranteeing the client's title in the property.

Locating a conveyancer

Conveyancing fees can vary; some companies will alter their fee depending on the service being carried out, others offer a flat fee with no hidden extras, which is very convenient. Click Conveyancing offers fast, affordable online conveyancing and also does face to face via its network of Sydney offices, whereas East Coast Conveyancing works all over NSW and offers a flat fee regardless of what you need done. Conveyancing laws can vary from state to state so be sure that you use a firm well-versed in these variances. Sometimes the lower fee schedule makes companies a very attractive option, but be sure of what you're getting.

However you choose to go about your property exchange, be sure to seek the advice of an experienced, qualified conveyancer or solicitor with specialist conveyancing experience before you take the plunge.