Posted by:
Comments:
Post Date:
No, conveyancing is the legal process of transferring property ownership, while settlement is the final stage of this process, involving the actual transfer of the property and the balance of the purchase price.
Conveyancing encompasses the entire legal process, while settlement specifically refers to the moment when the property is transferred from the vendor to the purchaser.
Conveyancing involves the preparation, verification, and lodgement of legal documents necessary for the transfer of property.
A conveyancer typically handles the conveyancing process. They prepare or review the Section 32 and vendor statement, prepare the legal documentation for the property transfer, order necessary certificates and facilitate the settlement process.
Property settlement is the final stage of the conveyancing process. It is the actual transfer of the property from the vendor to the purchaser. During settlement, the purchaser pays the balance of the purchase price, and the vendor delivers the necessary documents, such as the transfer of land, to the purchaser. On completion, the legal ownership of the property is transferred to the purchaser.
Conveyancers play a crucial role in both aspects, ensuring all legal requirements are met for a smooth property transaction.
For more information about conveyancing and property settlement, the conveyancers and solicitors of Red Door Conveyancing will be glad to explain it further. Contact us on 03 8456 6797.
