Conveyancing is a legal term but it also has relevance in the logistics industry. In logistics or transportation industry, moving commodities or any item in bulk from one point to another or from multiple places of origin to multiple destinations is known as conveyancing.
In legal jargon, conveyancing is the process of transferring the legal ownership or title of a property from one person to another. The transfer can also be between two entities, in which case one entity could be a company or an organization and even both the entities can be organizations. The transfer of title may happen between an individual and a bank. The concept of conveyancing also stretches its outreach to liens and mortgages. Whether a property is being purchased or sold, mortgaged or freed up from a lien, conveyancing will be integral to the entire process.
Conveyancing has distinctly different scopes across the world. The legal statutes pertaining to conveyancing are different in the US, England and Wales, Australia and Scotland among others. Generally, conveyancing services are provided by lawyers or legal professionals who specialise in property laws. There may be legal firms that offer conveyancing services without an actual lawyer being a part of the process. People trained in law, particularly property law and tax laws, can cater conveyancing services.
Typically, conveyancing services are offered in three phases. The first is the before contract, the second is before completion and the final stage is after completion. The contract is the legally binding agreement between the two parties engaged in the transaction. When conveyancing services are hired, the two entities don’t have to invest time or effort in any of the formalities, fact-finding exercises or legal requisites involved in the transaction.
Conveyancing services will include title searches, checking for restrictions or encumbrances on a property, formulating and enforcing terms and conditions as stated in the contract, facilitating and ensuring payments towards land tax and water tax along with ensuring that the rates being considered are fair and putting all legal requisites in place including the paperwork. In addition to these, conveyancing services will include searching for company details, conducting a contaminated land search, council property search, land tax search and running a check to ensure that the property has not flouted any building codes or local civic statutes.
Conveyancing services can ensure that any transfer of property ownership is done conveniently and perfectly according to legal requisites.