The process of transferring property to another in spite of seeming straightforward (as with inheritance) or the more involving process of purchasing or selling, is actually more complicated than anticipated. The transfer of legal title of real property from one person to another is in law described as conveyancing. In Australia, it is common practice to consult the services of a conveyancer in transactions involving property transfer. You may be tempted to go it alone but it is wise to use, for example, a firm with a conveyancer Adelaide has that is recognized by the law. In any case, a mistake may cost you interest or loss of a client in spite of an existing contract. After all, ignorance is not a ground for defense in law.
What a conveyancer does
In simple terms, a conveyancer is your translator or informant, financial manager, real estate agent, attorney and insurance agent all rolled in one. In addition, they are professionals who are registered by the government to oversee a legally approvable transfer of their client’s property to another party or from another party. To give you a taste of the bitter pill that going in blind can become, consider a basic fee like stamp duty. This tax is normally paid by a purchaser or borrower in support of the documentation involved in title transfers of property. Recently, there were parliamentary proposals in favor of abolishing the tax and replace it with a broader levy. If these changes are put in place, only services like those provided by an experienced conveyancer Adelaide has can best get such legalities ironed out for you.
Other legal options
You can choose to get a solicitor or attorney to do the work of a conveyancer. However, why most people opt for the latter is, for instance, an Adelaide conveyancer is conversant with the state’s law required in the transaction and will make sure you understand it in simple English. This is because they are in touch with the client and have no risk of falling prey to using legal jargon since it is something they do exclusively every day. In the past, they were simply known as land brokers, today, they are members of institutions like the Australian Institute for Conveyancers (AIC) that keep them abreast with news and trends targeted to better serve the client. It is legal in Adelaide and generally, Australia to do your own conveyance work. However, before attempting that feat, research tasks done by, for instance, a conveyancer Adelaide has today, to understand what it entails. Real estate agencies despite being involved in numerous transfers have conveyancers to do these tasks, why take a chance?
Choosing a conveyancer
In your quest to, for example, find Adelaide conveyancer who will administer the sale or purchase of that property on your behalf, these are important notes.
- The choice is yours alone: some estate agents will advise you to use their conveyancers but this should be your decision ultimately.
- Using the same conveyancer as the other party saves little but increases risks of delaying the settlement if conflicts of interest arise.
- Always ask your conveyancer questions regarding their service to you and cost of the transaction (including their fee) before you enter an agreement.
- Contract a Certified Practicing Conveyancer.
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