When buying a property, it is often tempting to save money along the way. One option is to do the conveyancing work yourself to save on legal fees. Unfortunately, this has backfired on many purchasers and sellers, so when considering this route it pays to be informed.
The information provided to you here is the different ways a real estate attorney works for you during a property transaction. If you are looking for an explanation of the contract process and examples of ways the contract may go wrong, then look no further. A real estate attorney protects your interests when things go wrong, so if you are considering a do-it-your property transaction, be very aware of the negatives of that decision before you make it.
Property conveyancing involves different parties and legal processes. One of the essential parts of buying land is titling. This is where the title is handed from the seller to the buyer. Here are some of the ways a property conveyancer can help you with the process of transferring the title.
Registration Of The Land
The first step is to choose the land you wish to purchase from a developer. The parcels of land will be released in different stages. You need to give out a deposit, usually a small part of the purchase price. The next step is the registration of the land. At this point, the developer will add street lights, utility connections, and other facilities.
One of the reasons land titling might take longer is because of delays with these utility connections. You need to have a property conveyancer by your side to ensure all the conditions you want to be included in the land are satisfactorily met.
Titling of the Land
The next step after the registration of the land is titling. During this stage, you need to be careful with your names and all the contents of the title. A conveyancer will ensure the titling is done correctly. The conveyancer will also search the title of the land to check whether there are any parties who have registered interest in the land.
These persons should give their consent to the land division or titling. Therefore, your conveyancer will seek the written consent of all people with certain interests in the land you want to buy. The conveyancer will also ensure you understand the contract of sale. After paying the balance of the land, you can exchange contracts, and the title will be officially in your name.
Community Title Developments
In some cases, transfer of titles involves a group of people. For example, land can be shared between tenants. A conveyancer can help you with community title developments. Besides making an application to the Lands Titles Office, your conveyancer will draft by-laws for the community corporation. These rules and regulations will govern the control and administration of the community land. In these types of title transfers, a property conveyancer will ensure that your best interests are protected.
In Conclusion
When it comes to the titling of land, you need to be very careful to ensure all the legal requirements are met. It's also important to make all the checks and balances to avoid buying land that's already disputed or without the consent of all the right people. You should make sure you involve a property conveyancing service to ensure the transfer of the property title runs smoothly.