|
Conveyancing
Conveyancing is the legal process of transferring the ownership (known as 'title') of real property (ie land and buildings) from the seller to the buyer. Whether you are a buyer or a seller, most people decide to use the services of a qualified property professional, either a solicitor or licensed conveyancer, because this is a legal procedure and can sometimes be complicated.
The Law Society is the professional body for all solicitors in England and Wales, who are bound by their code of practice. You can find a solicitor in your area who specialises in conveyancing on the Law Society website; this also provides information on how to use a solicitor and what to do if things go wrong. Solicitors used to have an exclusive monopoly on conveyancing, but this is no longer the case and you can now choose to hire a licensed conveyancer, rather than a solicitor, if you wish.
A Licensed Conveyancer is a specialist property lawyer, who is trained and qualified in all aspects of the law dealing with property and is regulated by The Council for Licensed Conveyancers, in accordance with the Administration of Justice Act 1985. Alternatively, you can undertake the conveyancing yourself, but you will need an understanding of the technical procedures; the Consumers Association, publishers of Which? magazine, produce a guide for those wishing to do their own conveyancing.
However you should also bear in mind that if you are financing the purchase of a property with a mortgage, then the bank or building society lending you the money usually insists on having either an approved solicitor or licensed conveyancer deal with the legal aspects of the mortgage. It is also common for the same lawyer to deal with both the purchase and the mortgage, as this helps to ensure that the two procedures are coordinated and can also save costs.
Remember, buying or selling a property involves serious legal obligations and if you have any doubts about what you are doing you should seriously consider taking advice from a solicitor or other suitably qualified property professional. These notes are offered as a general guide only and do not constitute legal or financial advice.
|
