Conveyancing in Australia: Who is the best person for the job?
Posted on: 24 October 2018
Conveyancing is simply the process where one individual legally transfers their ownership of a real estate property to another individual. However, being a legal proceeding, there are a lot of complexities associated with the process than our definition infers.
Real estate conveyancing
Real estate is considered valuable and great security asset due to the fact that it has permanence, can't be destroyed, hidden or relocated. In a situation where there is a mortgage, covenants, easement or caveats with the property; another entity has a vested interest in it and as such is entitled to it.
This is the main reason conveyancing is done, and it's the responsibility of the conveyancer to ensure the transfer of ownership of property is free of any interest. In the case that the transfer of ownership of real estate with such interests, the buyer should be notified as part of the conveyancing process.
The Conveyancer
When it comes to the conveyancing process, there are three options open to consumers:
Using a qualified Lawyer
The first and also the safest bet is having a lawyer undertake the whole proceeding. The beauty of having a lawyer as the conveyancer is simply their role extends to more than just conveyancing. Lawyers will not only handle the conveyancing process but will invariably give you sound legal advice, be responsible for your legal and financial safety, and advise you on the possible collateral. What's more, they will go even further and offer advice on taxation, will and real estate as well as family law.
Using a licensed conveyancer
The other two options are hiring a licensed conveyancer or doing it yourself with a conveyancing kit, but these options are rife with problems that can easily be avoided by using a qualified lawyer. The problem with licensed conveyancers is they lack the legal know-how, resources and have limitations with the scope of services they can provide. This makes using licensed conveyancers for conveyancing very risky but considerably expensive when you consider your money's worth.
DIY conveyancing
Undertaking the conveyancing process, yourself is easier said than done. For starters, you don't have the same insurance as a qualified lawyer. Which means if something goes wrong, which it will, if Murphy's law is anything to go by, you'll solely bear the financial implications.
When you need a conveyancer
Some of the transactions that require conveyancing include the selling or buying of real estate, updating a title deed, the registration, change or removal of an easement or when subdividing land.
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