Yarram Lawyers and Legal Services
Trevor Yong &
 Associates Pty Ltd

(03) 5182 5555

Conveyancing

Is the process of transferring land from one party to the another.

  
In law, conveyancing is the transfer of legal title of property from one person or business to another, or the granting of an encumbrance such as a mortgage.
 
A typical conveyancing transaction comprises of two major landmarks:
  • the exchange of contracts, whereby equitable title passes and
  • the completion, whereby the legal title passes.
 
Conveyancing occurs in three stages:
  1. before contract
  2. before completion and
  3. after completion.
 
A buyer of real property must ensure that he or she obtains a good and marketable 'title' to the land; i.e., that the seller is the owner, has the right to sell the property, and there are no factors which would impede a mortgage or re-sale.
 
The system of conveyancing is normally designed to ensure that the buyer secures title to the land together with all the rights that run with the land, and is notified of any restrictions in advance of purchase.
 
In most areas, conveyancing is facilitated by a system of land registration which is designed to encourage reliance on public records and assure purchasers of land that they are taking good title.