15th Mar 2011
A property solicitor will assist with the process concerning the transfer of legal title from one person to another.
A property solicitor will perform 3 key stages during the transaction these being: - before contract, completion and after completion.
If you are buying a property, then it is up to the property solicitor to ensure that the property being purchased has good and marketable title to the land and that the seller has the right to sell the property. This is done before contracts are exchanged, which creates a binding contract. The deposit will then exchange hands.
Completion is date of legal transfer and is the day when the remainder of the purchase monies are paid to the seller and keys are released to the buyer.
After completion, there is nothing further required in the conveyancing transaction by the buyer however the property solicitor will pay any stamp duty monies owed and set in motion registration of the property and any mortgage to show that the buyer is the new owner.
Once this process is complete you will receive confirmation that the property is registered in your name and the conveyancing will be at an end.