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The following article was published in our article directory on March 12, 2012.
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The Uses of Conveyancing

Article Category: Real Estate

Author Name: Lara Ryan

Do you want to transfer the title of your property to another person, thus effecting ownership change? Or are you about to get a property? Then before doing that, you should get a conveyancing solicitor.

There are many reasons on why property conveyance is useful. It may be that you are investing in property; you may want to make more money with your property, so you have to do frequent transfers of titles. It may be that you already have an offer for a new home or you may have already made an offer of your home to another. A conveyancing solicitor will deal with the legal implications.

Why is conveyancing necessary? Let us look at what the solicitors in that venture really do. Property conveyance is there to ensure that buyers of estate are assured that they will really own the property that they're going to buy - and here are the conditions: the seller of the property must be the actual owner, the seller has all the legal rights to sell his or her property, and nothing should exist which might hinder with a resale or a mortgage.

The process also ensures that the buyer of the property will garner the land title, along with all rights regarding the land. Before the buyer's purchase of the land, he or she is told about the every restriction in force that might influence the purchase before transfer of title. In short, the process of property conveyance is there to ensure the buyer that he or she is going to buy land that is O.K for buying.

Many jurisdictions can make the property conveyance process easier because of the completeness of their public records regarding land titles, and that ensures the buyers of land that the titles that they will obtain will be fine.

Conveyancing follows a two-step plan. Here it is:

1. The first stage of property conveyance is the time of the acceptance of the offer up to the time when the contracts are exchanged.

Before exchange of contracts, both parties (buyer and seller) can do many things. They can try to negotiate the land's price; the seller can choose to sell the property to anyone else; the buyer can choose to buy another property, the seller can choose not to sell the land at all; and the buyer can choose not to buy the land at all. At this point, each one can get a solicitor to help them in the whole first stage. Each one is accountable for all the fees that he or she pays, and there is no way to get back the fees just in case one party backs out.

2. The second stage of property conveyance is the time when the contracts are exchanged up to the time when the buyer (now the new owner) moves to the seller's property (called completion).

Here, contracts are already done, and both the buyer and seller should keep the sale binding. Both the price and the date of moving are already set. Anyone who tries to modify the contents of the contracts or break the deal's terms can be subject to exorbitant legal actions.

Conveyancing can ensure the smooth transfer of property, and it is important to get a solicitor's help just in case it is needed so that the sale of property will be smoother.

Keywords: conveyancing, cheap conveyancing, conveyancing uk, conveyancing wales, compare conveyancing

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