Conveyancing is the legal term for the process by which ownership of property is transferred from one person to another. A conveyance is a deed (legal document) that conveys a house from the vendor to the buyer, thereby transferring ownership.
There are two main stages in a typical conveyancing transaction - the first takes you up to the exchange of contracts and the second leads to the completion of the sale, when you become the new owner. It involves the following tasks:
- Verifying ownership and ensuring that a 'good' title is obtained
- Checking whether land has been registered
- Checking the existence of any restrictive covenants or rights of way
- Checking that any structural alterations (extensions, loft conversions) have the necessary planning permission and building licences, and whether they have a warranty
- Carrying out local authority searches
- Ensuring that there are no debts against a property or that they're cleared before completion
- Checking the lease and its clauses (leasehold property only)
- Drawing up a contract of sale
- Arranging registration of the title in the new owner's name after the sale of the property
In this section we take at look at the work done by conveyancers in more detail - the searches, the exchange of contracts and the completion of the sale. We also examine the different types of ownership, as this will affect how your conveyancing is carried out.
Property conveyancing is usually done by a solicitor or licensed conveyancer, and we offer you some helpful tips on how to find and choose the right one for you.