In its most simple form, Conveyancing is the legal process by which the legal title of property is transferred from the current owner to the new owner. The process involves a conveyancing solicitor or licenced conveyancer on each side of the transaction (one for the seller and one for the buyer) to ensure that all legal obligations are fulfilled.
The two key points in a Conveyancing transaction are Exchange and Completion. Exchange of contracts is the point at which the transaction becomes legally binding. Completion is the point where the purchase money is sent to the seller, via the solicitors, ownership is transferred to the buyer and keys are released.
For specialist Conveyancing legal advice chat to our residential or commercial property team on 01483 451 900, email us on sols@gordonsols.co.uk or make an online enquiry here.