What does “Conveyancing” Mean?
Buying and selling houses may appear a very long drawn out process but if we are to do the job properly and make sure you end up as the registered legal owner of the property you intend to purchase, it is essential we follow proper procedures. Some of those procedures and the terms you are likely to come across are explained below. “Conveyancing” means the whole procedure for the transfer of ownership of houses and flats in England and Wales. It is based on the legal requirement that a person cannot be legally bound to buy or sell a property until the contract is “exchanged” by the Solicitors acting for both parties. Conveyancing contracts are not like other contracts: for example you can be bound by a contract to buy, say, a car, just by speaking to the owner and agreeing a price. The requirements in a property transaction are much more formal and until “exchange of contracts” either party can withdraw from the transaction.
