Conveyancing

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Conveyancing provides the transfer of the legal title
in a property from one person to another.

The buyer must obtain a title that is valid and marketable and free from issues that would be an obstacle to a mortgage or resale.

A typical conveyancing transaction contains two major landmarks:

  1. The exchange of contracts (whereby equitable title passes)
  2. Completion (whereby legal title
    passes)

Conveyancing occurs in three stages:

  1. Before contract
  2. Before
    completion
  3. After completion.

A buyer of real property must ensure
that he or she obtains a good and marketable 'title' to the land; i.e.,
that the seller is the owner, has the right to sell the property, and that
there are no factors which would impede a mortgage or re-sale.

A
system of conveyancing is usually designed to ensure that the buyer
secures title to the land together with all the rights that run with
the land, and is notified of any restrictions in advance of purchase.