Conveyancing Explained
Conveyancing…it’s a strange word, a little “old fashioned” but what does it mean?
Here’s the Wiki definition:
In law , conveyancing is the transfer of legal title of property from one person to another, or the granting of an encumbrance such as a mortgage or a lien.
A typical conveyancing transaction contains two major landmarks: the exchange of contracts (whereby equitable title passes) and completion ( whereby legal title passes ). Conveyancing occurs in three stages: before contract, before completion and after completion.
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- Christine Wise
- New Business Team Manager
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- Wendy Frame
- Residential Conveyancing Manager
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- Maria Northrop
- Licenced Paralegal
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- Alison Raw
- Conveyancing Executive
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- Leanne Scott
- Conveyancing Executive
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- Eve Wilderspin
- Conveyancing Executive
What We Say:
Conveyancing is the legal process of buying and selling property, whether that property is freehold or leasehold and whether it is a house, an apartment or just undeveloped land.
If acting for you in a sale, your conveyancer will take you through the legal process up to 'completion' when your sale is finalised. At that stage, your conveyancer will utilise the sale proceeds to repay your mortgage and the costs of sale and will then account to you with the balance of the sale proceeds or otherwise utilise the balance towards the purchase of another property which you may then be buying.
If acting for you in a purchase, your conveyancer will carry out searches against the property and will make relevant enquiries with the seller's conveyancer about the property so you are fully aware of all matters relating to the property before you commit to purchasing the property by "exchange of contracts".
At Tilly Bailey & Irvine we recognise, whether you are buying your first home or selling and buying another property, that friendly, clear and helpful advice is what clients should expect and deserve.