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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).
It represents the transfer of ownership from your mortgage lender to you. Over the time you repaid your mortgage, you legally owned the property, but the lender held the mortgage lien, or claim ...
A transfer deed is a document used in conveyancing in England and Wales to transfer real property from its legal owner to another party. Sometimes referred to as a transfer and formerly a conveyance or assignment (if a transfer of an existing Leasehold title). Several different forms of transfer are used, depending on the circumstances of the ...
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).
In property law, alienation is the voluntary act of an owner of some property to convey or transfer the property to another. [1] Alienability is the quality of being alienable, i.e., the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another.
A lease and release is a form of conveyance of real property involving the lease of land by its owner to a tenant, followed by a release (relinquishment) of the landlord's interest in the property to the tenant. This sequence of transactions was commonly used to transfer full freehold title to real estate under real property law.
Livery in law, whereby the parties went within sight of the land and the transferor declared to the recipient that possession was being given, followed by the recipient entering onto the land. The symbol of livery for a house was the door's ring or hasp; for mills, the "clap and hopper"; for a church, a psalm book and keys, and so on.
Only a conveyance, as a separate legal act, can effect the transfer agreed to by contract between the parties. Scotland has an abstract property legal system, meaning the conveyance does rely on the causa of the transfer. [6] In Scots law the recognised causae traditionis for transfer of property are: loan for consumption , gift