Conveyancing Services for UK Landlords
The standard description for Conveyancing is the Transference of ownership of a house, flat or piece of land from one person or business to another
A typical transaction contains two major milestones:
- The exchange of contracts – equitable title passes
- Completion – legal title passes
Conveyancing can be split into three major stages:
- Before Contract
- Before Completion
- Completion
It is essential that as a buyer, you make sure that the person selling has good ‘title’ to the land/property, the seller is the owner or has been put in place legally to sell, and that no factors would prohibit a mortgage.
By Law, anyone can do the above for themselves. There is a note of caution in taking this approach as you will need the necessary time, knowledge and confidence.
The majority of people however employ a professional, generally a solicitor or other certified person and these are known as Licenced Conveyancers. An LC is a specialist property lawyer, who is trained and qualified in all aspects of the law dealing with property. The legal processes of transference of buildings/land from one owner to another (Conveyancing) and dealing with the financial transactions - was the responsibility of solicitors until 1987. Under legislation now, it is possible for others to become Licenced Conveyancers. These conveyancers practice on their own or in partnership with others.
The Council for Licenced Conveyancers was established from the Administration of Justice Act 1985. The duty of the CLC is to: "ensure that the standards of competence and professional conduct among persons who practice as Licensed conveyancers are sufficient to secure adequate protection for consumers and that the conveyancing services provided by such persons are provided both economically and efficiently.