Conveyancing is a legal term that refers to the transfer of property from one party to another. It is typically used in the context of buying, mortgaging or structural inspection of a property. It also finds similar usage in legal matters relating to land and property ownership, such as land tax and stamp duty in the United Kingdom.Continue Reading
The act of conveyancing refers to the legal transfer, or conveyance, of property ownership between parties through a legal document, such as a deed or mortgage. The specific legal process for conveyance varies from country to country and depends on the nature of the property transfer. In many countries, conveyancing is facilitated by a land registration system. This ensures buyers and sellers of property make the transfer of property publicly known, and it guarantees a title to registered interests in land. In the United Kingdom, this is done through the Land Registry.
Another use of the term conveyance is as a noun in the context of real estate transactions to refer to the written contract between a buyer and seller. Such a contract ensures that both parties are aware of their responsibilities and obligations regarding the transaction and ensuring the buyer can acquire a clean title to the property.Learn more about Education