Conveyancing is the term for the legal and statutory processes required to effect the transfer of ownership of real estate from one person or entity to another. The preparation, execution, verification and lodgement of numerous legal documents are important elements of conveyancing.

Your conveyancer will explain clearly the meaning and importance of each document. Our members are encouraged to use plain English, not complicated legal terms, to help you understand exactly what you are signing. Drawing upon your instructions, your conveyancer will also assist you to meet your legal obligations and protect your rights and interests.

Investigating the title of the property is one of the most important elements of conveyancing. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. Your conveyancer is able to conduct the appropriate searches and inquiries on your behalf.

Work undertaken includes:

• Certificate of Title searches;
• Searches of government departments and local authorities;
• Advice on the effect of the contract;
• Preparation and certification of legal documents;
• Stamping of required documents;
• Calculation of adjustments of rates and taxes;
• Preparation of settlement statements;
• Liaison with mortgagors and financiers; and
• Attendance at settlement.

Conveyancers may work for both the buyer and seller although the Institute does not recommend doing so in most transactions. Remember, your conveyancer is working for you and is there to offer you independent, expert advice. Indeed, a conveyancer acting for both buyer and seller must cease to act if a conflict of interest arises between the parties. This can be costly and time-consuming for everyone. If you are more comfortable using a conveyancer of your own choosing, that is always your right. You can use our List of Members to find a conveyancer.

Some conveyancers also provide a range of services in relation to:

• Buying & selling commercial & industrial property;
• Commercial and retail leases;
• Contracts for the sale or purchase of a business; and
• Subdivisions and new titles.

Please contact the AIC if you require specialist advice in any of these areas.

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