What is Conveyancing?

June 05, 2014
Jenika Clifford

Paul Dent Lawyers are one of our trusted and a reliable business partners. Mortgage Choice In Bundall has requested Paul Dent Lawyers to provide some information regarding to the conveyancing process which you may find beneficial.

 

You will often hear the term “conveyancing” used. It simply refers to process of transferring ownership from one person to another. It also encompasses the laws and procedures involved with such a transfer.

 

Throughout Queensland the process is pretty much the same except that different local councils will be involved.

 

In Queensland the conveyancing process involves:


  1. The buyer and seller sign a contract
  2. Each party hires lawyers and the respective lawyers communicate with each other on behalf of the clients
  3. The lawyers explain to the clients their rights and responsibilities under the contract and under the law. The lawyers also explain what has to be done in order to complete the whole transaction
  4. The lawyers prepare the appropriate documents to make sure the transfer of the property goes through and arranges for the signature by the parties
  5. The buyers lawyers can lodge a settlement notice, to protect the buyers interests and to prevent anyone else dealing with the property while the process is underway
  6. The buyers lawyers will undertake searches of various government and body corporate records to make sure that everything in relation to the property  is as it appears and the buyer is not stepping into any hidden traps
  7. The lawyers will liaise with banks and other parties involved in the transaction and make sure that everything is coordinated for the day of the settlement. Settlement: is the moment when money is paid over by the buyer and the ownership of the property legally changes hands
  8. The lawyers or their agents attend settlement and either pays the money to the seller or accepts the money from the buyer
  9. Either the lawyer or the bank lending money to the buyer will lodge documentation with the Queensland government to register the change of ownership. That documentation is also provided to the local council so that their records can be updated.

 

This is a simplified outline of what is involved, but each step is complicated by laws and conventions which have developed over hundreds of years. That is why it is best to engage a lawyer who is knowledgeable and experienced in the conveyancing process.

 

Paul Dent Lawyers are trusted and well known legal firm located on the Gold Coast.  With over 30 years’ experience the team at Paul Dent Lawyers will be able to assist you with buying or selling a property and Estate Planning. Call them today on 07 5594 3373 or find out more on their website www.pauldent.com.au  

 

Let Mortgage Choice in Bundall, Gold Coast take the hassle out of finding the best lender and the right loan to benefit you, calling Mortgage Choice in Bundall today on 07 5504 5569 or email info.bundall1@mortgagechoice.com.au

 

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