If you have managed to navigate the Australian property market and found good properties to invest in, then you must focus on the next crucial step. When buying or selling a property, several tasks related to the transfer of ownership need to be performed. Completing such tasks is not only time-consuming but also legally complex; this is where hiring experienced property settlement lawyers can assist you.
Join us in this blog as we provide you with comprehensive knowledge about these professionals and how they assist you in conducting the conveyancing process.
Conveyancing is the area of law that is related to the transfer of property when purchasing or selling the property. It includes a lot of legal work, as mentioned in the Conveyancing Act 1919 like:
This is a property professional who offers assistance, information, and advice while transferring the ownership of the property. In Australia, it can be done in three different ways:
If you are still confused as to why you need a conveyancer to buy a house, then read through the section to know the role of a conveyancer. The role of a professional is to ensure that all necessary searches regarding your new property are complete before finalizing its purchase. They look into all the necessary paperwork during the transfer or sale of the property. Some of these paperwork may include:
Other checks that these professionals can conduct are:
In most regions of Australia except Queensland and the Australian Capital Territory, conveyancing can be performed by a licensed lawyer or a conveyancer. In the two places mentioned above, only a solicitor can perform conveyancing.
A property division lawyer in Perth is a professional solicitor who is an expert in property law and can assist in the conveyancing process. Apart from this, they may also have extensive knowledge of other matters such as tort law, taxation, and contracts. A professional conveyancer, on the other hand, is a licensed specialist who has undergone an accredited degree.
Although it is possible to do the conveyancing yourself, it can be an extremely time-consuming and confusing process, especially if you are a first-time home buyer. This is where lawyers will help you:
Knowledge is the main reason why an experienced lawyer is more efficient than a conveyancer. A conveyancer may only be able to assist you in small matters related to property law. In such cases, a lawyer with specialization will be able to help you with a broad range of legal issues, ranging from lease arrangements to contract disputes.
The convincing process has the potential to turn into complex litigations when various parties fight to get the best possible outcome. Not only will an experienced lawyer be able to reduce the chance of such litigations, but they will also be equipped with the legal expertise that is required to protect your interests.
The main role of an expert conveyancer is to see that all necessary ways have been explored and all the possible gaps in legal issues have been covered. If you try to DIY the process, then you may overlook the legal loopholes, which may lead to a breach of contract. Therefore, it is essential to hire an expert like a property settlement lawyer. While you may have the option to conduct your conveyancing, the associated risk outweighs the benefits.