What is The Conveyancing Lawyer’s Role?
Every person participating in society has a broad, if not detailed, understanding of what conveyancing lawyers are and what they do. However, as stated, their services and obligations stretch to the far corners of property law and legal transfer of ownership. The most basic understanding is that conveyancing lawyers handle the legal transfer of ownership where immovable property is concerned. It should be noted, however, that a transaction does not reach conclusion upon signing the offer to purchase or even finalising payment. When a property is sold, a new deed of transfer must be drawn up and registered. This is where a conveyancing lawyer is appointed.
Typically, the seller would appoint the conveyancing lawyer, but in cases in which the buyer required a loan, the lender, usually a bank, will instruct their lawyers to attend to the registration of the bond. As such, when dealing with the cancelation of a bond for the seller, the lending bank of that transaction will instruct their lawyers to handle the cancellation of the bond. In most transaction there can be as many as three different firms of conveyancing lawyers involved in the registration process of a single transaction.