putting your conveyance in the right hands
Conveyancing can often be an exciting and rewarding experience. However if placed in the wrong hands, it could become a stressful, costly and legally complex situation for all parties involved. This is where the role of a lawyer comes into the picture. A lawyer can ensure every step of your conveyance is achieved with the utmost diligence and care, so that your newly acquired property will be yours without any potentially nasty legal surprises popping up down the track.
What is a conveyance?
A “conveyance” is simply the written document that transfers land from one person's hands to another. Conveyances may include deeds, real estate contracts, assignments, leases, mortgages or deeds of trust. “Conveyancing” is the work involved in preparing these deeds in order to transfer the interest in land from one party to another.
It all seems easy enough, so can't I do my own conveyance?
Conveyancing work is highly technical and highly specialised. Doing your own conveyance can be a risky business as you can't get the same indemnity insurance available to legal professionals. This means that if you make a mistake you are fully responsible and there is little avenue for financial compensation.
Even if you have done your own conveyance before, you are still better off speaking to a solicitor. This is because laws change quite frequently and there may be complex and potentially costly problems that may catch you out when you least expect it. Speak to us at Grahams Lawyers to ensure your conveyance is in safe hands.
Why should I use a lawyer instead of a licensed conveyancer?
A Licensed Conveyancer is a person specifically qualified and trained to act in all conveyancing transactions and are licensed by the Department of Fair Trading and governed by the Conveyancers Licensing Act. Since 1993, both solicitors and licensed conveyancers can undertake conveyancing. Lawyers and licensed conveyancers are also both covered by professional indemnity insurance policies.
Generally speaking there is not necessarily a great deal of discrepancy between the fees and charges of solicitors and licensed conveyances. However, there is a risk that a licensed conveyancer may not offer you the extent of professional service and the expertise as a solicitor.
Conveyancers and solicitors are equally qualified to perform the clerical aspects of ‘conveyancing work.' However, unlike solicitors, conveyancers are not permitted to undertake any ‘legal work' that may arise from the conveyancing transaction. Legal work is generally defined as the preparation of any document that creates, varies, transfers or extinguishes an interest in land. This means that c onveyancers are not qualified to draft certain legal documents that may be necessary to effectively complete your conveyance, such as a power of attorney for the transfer of your land, particular provisions for the contract for sale, a license agreement or a rescission notice.
Unlike solicitors, conveyancers will not be able to provide you with any legal advice. A solicitor will be able to provide you with the adequate legal advice that may be necessary during the course of your conveyance. For instance, legal advice may be required in the event of:
- Caveats and covenants attached to the property preventing you from dealing with the land.
- Any developments to the property which have not been approved by the local council
- The property size differing from the measurements registered on the title
- Finding the property is damaged, or missing when conducting the final inspection.
C onveyancers also do not undertake litigation work so they won't be able to assist further if a conveyance hits more complex legal issues, such as disputes between the vendor and purchaser that may need to be taken to court. For instance, if you are purchasing a property that is being sold out of a divorce settlement, and one divorcee places a caveat to prevent you from purchasing the property, a solicitor will be able to file the necessary court orders and undertake the litigation required to put your conveyance back on the right track.
A carefully chosen lawyer is a vital part of your professional armoury for a smooth conveyancing experience. Speak to us at Grahams Lawyers to ensure you receive the comprehensive legal advice to achieve a conveyance completed with peace of mind.
