Pauntehah Poursaba
I’ve recently had two friends, first time home buyers, ask me: “what exactly is a conveyance?” after we discussed the process they’d go through for their purchase.
This got me thinking about the fact that I too, a young millennial in Vancouver (i.e., not a current home owner, but we dream on), had no idea what the term “conveyance” meant either before I started my legal training. And for many lay-people, unless you’ve bought a home already and have heard the term used during the process, or are in the business of real estate, why would you know what a conveyance is? So, here’s the breakdown for you, so that when you do make your first purchase, and your legal team starts throwing around the term “conveyance”, you won’t need to pretend you know what they’re talking about and go google it after-the-fact.
What Does “Conveyance” Actually Mean?
Simply put, a conveyance is the legal process that transfers land from one owner to another. When you make an offer on a home, or sell a home, the title of that home will need to be transferred from the seller to yourself, if you are the buyer, or from yourself to the buyer, if you are the seller. That procedure of transferring the ownership and the rights to the property is the process called the “conveyance”.
What Happens During a Property Conveyance?
As a seller or a buyer, your job is to sit back, and be able to trust the process! Our job, as your legal counsel is to facilitate the conveyance, or should I say, the transfer of the property for you. Well okay, there’s a bit more nuance to it than that. The process of a conveyance, from our side of things, includes: reviewing the contracts that have been put together by the realtors, preparing documents for the transfer, pulling and checking the title to the property on more than one occasion to make sure nothing goes awry during the process and the title stays clear for closing, crunching numbers to let you know how much you will need to put down for a purchase, or how much you will be receiving from a sale, checking that property taxes have been paid and adjusting for them, adjusting for any strata payments, or utilities, and more!
Why Legal Guidance is Crucial During Conveyancing
Buying a property, or even selling a property, can be a stressful situation, but having a legal team you can trust involved means we will make sure the procedure goes smoothly so that you don’t need to worry about it. We do all the heavy lifting so that when it comes to it, all you need to do is come in, take a seat, and sign some documents.
Common Issues That Can Arise—and How We Help
When things don’t go smoothly (hey, it happens), we deal with it and we get the problem fixed before you need to worry about it – that’s the beauty of having a full service law firm on your side.
So there you have it, now you know what a conveyance is! And if you need any assistance with the purchase or sale of real estate, contact us today and we’d be happy to help, legal jargon included at no additional fee.
