Definition - What does Conveyancing mean?
Conveyancing is the area of law devoted to, or the process of, drafting and issuing documents to facilitate the transfer of land and/or dwellings between individuals. It includes the preparation of documents such as deeds, mortgages and leases. It also encompasses related activities, such as title research and analysis.
Justipedia explains Conveyancing
Conveyancing is important because it protects both parties involved in a real estate transaction. There are two ways in which it does so:
- By creating legally binding contracts pertaining to the transfer of property. This means that if either party fails to honor the contract, the other can pursue legal recourse.
- By safeguarding against the illicit transfer of property. Specifically, it determines whether the property can be sold, and makes the buyer aware of any potential pitfalls.