Conveyancing is a term used to describe the process by which the ownership of a property is transferred from a person to another person. It is a process that, while complex, can be streamlined by lawyers who have experience and an effective understanding of the law.
Conveyancing in Queensland is different to most other states in Australia. Most of the difference lies in different local Council areas and their requirements for the transfer. While no two conveyances are the same, the process of conveyancing in Queensland is generally as follows:
- The buyer and the seller sign a contract for the sale of land usually including all of the improvements (such as buildings) on the land.
- The parties each appoint a separate lawyer to handle the conveyancing process.
- The lawyer reviews the contract and explains to their client their obligations and rights after signing the contract, and explains what must be done by the client in order to ensure that the party can ‘settle’ the transfer of the property. The term settle refers to the time that the buyer actually pays the purchase price to the seller and the seller actually transfers the property to the buyer.
- The lawyer drafts all of the required legal documents to give legal effect to the transfer of the property. The lawyer also ensures that the legal documents are signed, as necessary, by the parties to the transaction.
- Ordinarily the lawyer acting for the buyer will also lodge a document known as a settlement notice on the title to the property. The purpose of this document is to prevent the seller from transferring the property to a third party behind the back of the buyer.
- The lawyer also conducts searches through the numerous government and body corporate records to ensure that the property is as it appears and that there are no problems needing to be addressed according to the terms of the contract. It is important that you engage the right lawyer so that they can properly review these searches to ensure that your rights are protected.
- The lawyer liaises with banks and other parties to ensure that everything and everyone is coordinated for the day of settlement.
- On the day of settlement, each party’s lawyer attends the place of settlement and settles the transfer of the property.
- Where required, the buyer’s lawyer will lodge any document required to be registered with the Government to record the transfer of ownership in the property.
This is a brief outline of the conveyancing process, which in reality can be much more complicated. There are a variety of different steps required to ensure that both the terms of the contract and the legislation governing the process are complied with properly.
How we can help
Allanah Perry, our Conveyancing Manager, has over 30 years’ experience in conveyancing and has a reputation for going above and beyond for her clients. Here is some feedback we received recently from one of our clients:
“Allanah and Karina were the people we dealt with, and we found them both to be extremely professional… They made the whole process of buying and selling totally stress free for us.”