Lawyers possess a specialty in their area of interest. Some can opt to be criminal lawyers while some might want to be conveyancer newcastle. The conveyancer is a specialist lawyer who deals in the legal aspects of buying and selling real property. They are not real estate agents but are legal executives in the field of real estate. They can also be a solicitor, licensed conveyancers, or a fellow of the Institute of Legal Executives.
Role of a conveyancer newcastle:
Legally, conveyancing is the transfer of the legal title of real property from one person to another. A standard procedure for conveyancing includes two phases, one is the exchange of contracts (equitable interests) and the second is completion (settlement, merging of equitable rights).
The sale and purchase of the land are included in the legality procedure and relevant documents are essential as the proof of completion of an agreement between the two parties. As per the jurisdiction, two copies of the contract of sale are maintained and both parties must sign both copies of which one copy is retained by each party.
Generally, one party must possess a copy signed by the other party and vice versa. This may be a sufficient document as evidence but usually, both parties prefer to keep a copy signed by both parties on the same document. This can be understood as both parties having an exchange of contract.
During the transactions of property, conveyancer Newcastle carries out due diligence by submitting queries. These include –
- Local authority searches – to find out changes or restrictions of use on the property.
- Checking the title – title plan and title registry at the Land Registry.
- Water authority – to find out drains that might affect building or extension works.
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- Checking flood risk – from coastal, river, or surface water flooding.
- Environmental search – to find out contaminated land, landfill sites, industries, gas hazards, and other relevant information.
- General – checking the pipelines, noise zones, or common land.
- Location-specific search – if concerns are raised by the buyer.
Why is conveyancer needed?
The deal of real property between the two parties must be legalized and to help the parties to know the legal terms, a conveyancer is required. Also, hidden aspects like the authenticity of the trade, land, and parties are to be verified to prevent the potential cheating, conveyancer plays an important role. Once the legal transfer is done both parties can rest assured that the deal is done genuinely.
Most real property sales are under the supervision of conveyancer Newcastle and the deal must be authentic and recorded. If both parties are genuine there is no issue but some parties come into the deal with the intent of cheating the other party. For more information visit our Website.