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In most Commonwealth countries, a conveyancer is a specialist lawyer who specialises in the legal aspects of buying and selling real property, or conveyancing. [1] A conveyancer can also be (but need not be) a solicitor, licensed conveyancer, or a fellow of the Institute of Legal Executives.
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
Torrens title is a land registration and land transfer system, in which a state creates and maintains a register of land holdings, which serves as the conclusive evidence (termed "indefeasibility") of title of the person recorded on the register as the proprietor (owner), and of all other interests recorded on the register.
Licensed conveyancers must also comply with all requirements pursuant to under the Conveyancers Act 2006 (Victoria). In New South Wales (NSW), a conveyancer must hold a license issued by the NSW Fair Trading body. They are regulated by the Conveyancers Licensing Act 2003 [4] and the Conveyancers Licensing Regulation 2015. [5]
In the case of real estate, the legal instrument used to transfer title from one person or entity to another is via the deed. A famous rule is that a thief cannot convey good title, so title searches are routine (or highly recommended) for purchases of many types of expensive property (especially real estate).
The basic distinction in common law systems is between real property (land) and personal property (chattels). Before the mid-19th century, the principles governing the transfer of real property and personal property on an intestacy were quite different. Though this dichotomy does not have the same significance anymore, the distinction is still ...
The ministries of Jamaica are created at the discretion of the prime minister of Jamaica to carry out the functions of government. As of 2016, the prime minister is Andrew Holness . The agencies of Jamaica are created by both parliamentary law and assigned to ministers to oversee.
A typical real estate contract specifies a date by which the closing must occur. The closing is the event in which the money (or other consideration) for the real estate is paid for and title (ownership) of the real estate is conveyed from the seller(s) to the buyer(s). The conveyance is done by the seller(s) signing a deed for buyer(s) or ...