What Does a Conveyancing Attorney Do?
A conveyancing attorney, also known as a conveyancer, is a legal body tasked to handle the transference of property when sold. Their duties vary but remain relevant to the transactions related to property transference.
Ownership of property is not achieved upon signing an offer, nor when payment has been made. Ownership of property is only achieved upon registration of the property. This is where a conveyancing attorney is appointed. With that said, there are three different types of conveyancing attorneys where the buying and selling process of property is concerned. Transferring Attorneys: A transfer conveyancing attorney represents the seller and transfers the property from the seller to the buyer. Registering or Bond Attorneys: Registering or bond conveyancing attorneys register the property bond in favour of the bank financing the purchase of the property and represent both the buyer and the bank granting the home loan. Cancellation Attorneys: Cancelation conveyancing attorneys serve to cancel the seller’s existing home loan and represent the bank cancelling the home loan.
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Once all instruction and documentation has been sent to the conveyancing attorney by the estate agent, the attorney would then draw up the relevant documentation, which includes the bond documents.