Obtaining ownership of immovable property is not something that simply happens through the signing of documents. It is a process that takes getting the property registered in the buyer’s name in a deeds registry office. Conveyance can be defined as a legal process that oversees the lawful transfer of ownership of immovable property. With every property selling a new deed transfer must take place and registered and a convenyancing lawyer or attorney ensures certainty and security throughout the process.
Usually, a total of three conveyance attorneys handles the selling and buying process of the property. There is the transferring attorney who handles the transfer from seller to buyer and is therefore appointed and represents the seller and then there is the registering attorney who registers bond over the property in favor of the financial institution that could be financing the property purchase. The attorney represents the buyer and the bank that has granted the loan and therefore can be appointed by the bank. The other attorney is the cancellation attorney who cancels any existing home loan on behalf of the seller and is appointed and represents the bank in the seller’s bond cancelling.
Duties
As a seller, you definitely should use the services of conveyancers to make sure the transfer process is swift and safe for all parties involved. When you get an attorney, you should expect them to:
1. Protect your interests as the seller throughout outweighing any other consideration but the legality issues needed in the process
2. Inform you of the procedure that will be followed and to keep you informed of the transaction progress so you are not left out in any way when selling the property
3. Give you advice on the offer of purchase contents, especially when there are conditions that could have effects and you should therefore be aware about
4. Give you the seller advice on bond cancellation, notice periods, penalties and any other administrative charges that could end up affecting settlement figures you probably expected
5. Seek instructions from you before any guarantees are issued during the transaction and commit to registering the transaction closest possible to the agreed date in office of purchase
6. To enlighten you on what your obligations are as far as offer to purchase goes so that you do not experience avoidable delays when handling the process
7. Schedule meetings with you to go through any documentation that needs to be explained so you are able to be in agreement and conclude the transaction successfully
8. Prepare lodgment deeds carefully so that rejection risks are kept on the low during documentation by the responsible deeds office
9. Give you information about the transfer and or on the exact day of the registration
10. Offer you an account of all finances that relate with the property selling transactions a few days after registration takes place.
It is good to always ask your conveyance lawyer about what services will be rendered to you so you can be sure that the property selling process will be handled professionally.