This expression covers all the legal work involved in the transfer of ownership of a home from one person to another. The work is usually handled by a solicitor or licensed conveyancer, both of whom must have achieved suitable professional qualifications, have adequate indemnity provisions in place and the necessary experience to handle the matter competently.
Conveyancing means everything that happens from when your initial offer is accepted ‘subject to contract’, through to exchange of contracts and the full legal completion. Technically, a conveyance is the final transfer document passing over the title and the legal responsibilities that go with ownership of the property.
land Registration Act 2002 has changed all the time-honoured procedures and over
the next few years, various Regulations will be introduced leading with ten or
12 years to totally electronic conveyancing – right down to electronic signatures!
Have you got yours yet? Associated changes in estate agency practice will be quite
significant and are briefly described under Home Information Packs.