Conveyancing & Property
How we make conveyancing easy
Your house is often one of your most valuable assets. Buying, selling or transferring land and property can be one of the hardest decisions most people will make, particularly given the complexities in the area of property law and the financial commitment often associated with making such a decision.
The legislation governing the property law in Victoria is very specific with regards to the sale or transfer of land and property. Our lawyers at SGM Legal can guide you through the process from preparing all the relevant information required when buying or selling property, such as the Section 32 Statement, Contract of Sale, liaising with your bank or financial institution, preparing Section 27 Statements, arrange and attend settlement, and prepare the Statement of Adjustments.
What is the conveyancing process?
The general (brief) process of conveyancing is as follows:
1. Contracts come into existence (this is when the sale agreement becomes binding and a deposit is usually paid at this point)
2. Settlement and completion (the balance of the purchase money is paid and title transfers to the purchaser)
3. Title document registered (the land registration details are changed to show the purchaser as the owner)
However, throughout these stages there are many documents to be prepared and reviewed. SGM Legal can prepare and review documents for you, including:
- Section 32 Statement
- Contract of sale
- Section 27 Statements
- Statement of Adjustments
- Property searches
- Priority Notices
We also liaise with the other party, your bank or financial institution, local council and relevant supply authorities to ensure all requirements are met andsettlement goes through without any issues.
Getting it Correct
Sometimes, issues arise, and buyers may be liable to pay the vendor penalty interest, such as in the case if the plans for a property have not been approved by the local council through the usual channels. This can delay settlement, and cause further stress and financial expense for both the buyer and the vendor. SGM Legal can provide you with accurate, efficient advice as to what the best options are for your circumstances should a dispute arise during the settlement process. In some cases, clients may wish to transfer their property to a family member, company, or trust, to reduce their liability, protect their assets, or for tax purposes. SGM Legal can advise you on the process, whether stamp duty is payable, arrange any necessary forms and documentation, and organise for the transfer of the title.
There are a number of other issues that can arise during the purchase, sale or transfer of a property. One such problem is that of caveats placed on the property, particularly if the property is an asset in an estate or family law dispute. The title must be clear of the caveat before it can be sold and transferred to the new owner. Fence and boundary disputes are also quite common, where the title shows a discrepancy between the actual land, and the official boundaries of the property. This can arise in older areas where fences may not have been built on the correct boundary line surrounding the property, or instances where there has been a shared drive way or lane way used to access the property.
It is important, therefore, to make sure everything goes as smoothly as possible during the conveyancing process. This will avoid any issues in transferring the property and ensure you are able to buy or sell your property without serious financial consequences. SGM Legal has extensive experience in all of these matters and we're able to assist you every step of the way.