Conveyancing is the legal procedure or practice entailed in property law, particularly when handing over the property’s title from one owner to another. If you are planning to venture into the world of property and real estate or have already practiced/practicing property law, then it would be perfect for you to become a licensed conveyancer. This type of professional is needed for any type of contract for sale of a property and to fulfill a number of different fields of property law in order for a purchase to be completed, including surveys, mortgages, leases, strata reports, covenants and easements, government authority proposals, property’s condition concerning pests and building, land and GST tax, water, and council rates, state government and local council compliance, and stamp duty.
Conveyancing involves legal tasks done relating to any deal that produces, modifies, extinguishes or transfers an equitable or legal interest in any personal or real estate property. It consists of legal work involving any document preparation, like a mortgage, agreement, lease, transfer or conveyance that is needed to give cause to any legal work, like providing counsel or preparing, checking, registering or replacing documents and conveyancing deal that is supplementary or important to any such deal.
In Australia, every territory and state has a governing body in charge of administrating the Conveyancers Licensing Act, with the Office of Fair Trading usually issuing the conveyancers’ licenses.
There are a number of processes to engage in for individuals who are thinking of becoming a conveyancer. Available courses include TAFE and diploma in financial services, wherein a finished Year 12, with a C grade (minimum) in 4 accredited, including math and English is required, though alternative option and special cases are available.
In Obtaining a License
In order to get a license, you should be 18 years old and above; have obtained practical experience of one year (should be gained in a legal office that does conveyancing work or in a conveyancer’s office, and can be acquired before, after or during the course) to be awarded a restricted license; should not be an ineligible individual as outlined in the Conveyancers Licensing Act; should possess a degree in law accepted in NSW; have obtained practical experience of two years to be given an unrestricted license (which is only needed when the licensee is the owner/operator of a conveyancing firm); and should be covered by a sanctioned Professional Indemnity Insurance policy.
In certain states in Australia, conveyancers, before they can practice, are required to get a Settlement Agent’s License from the Department of Consumer and Employment Affairs, with a requirement of at least 2 years of experience, while lawyers can automatically apply for such a license. Those who are self-employed need to obtain a Triennial Certified that is given out by the Settlement Agents Supervisory Board. On the other hand, a lot of conveyancers opt to work in law offices and large corporations that focus on conveyancing. It is of great importance to keep in mind that conveyancers should undergo continuing professional development on a yearly to keep their license.
The outlook of conveyancing is positioned to enhance rapidly with the intended launch of electronic conveyancing processes in conveyancing institutions, with membership available in all state and city capitals.
Conveyancing Australia is an impartial website providing useful information to Australians considering employing the services of conveyancers. As the purchase or sale of property is a relatively infrequent event there is much confusion over when a conveyancer is needed, why and what benefits we as profession have to offer.