Conveyancing is quite essential when it comes to property transfer. This is because there is a need to have the legal procedure followed as well as avoid loss of money through fraud.Hiring a conveyor may seem quite expensive but it saves quite alot of money. They have a blueprint of all the paperwork that is needed and hence an easy flow of the transaction process.
While engaging a conveyor there is a document that is used to effect the transaction. The document is called a conveyors deed. It acts as the future reference document incase there are disparities that may arise. What are the elements of the concepts deed? lets go through them:
1. Defined boundaries
Before any thing is done a survey needs to be done.This enables the parties to have clear defined boundaries that show the area being bought. As you buy propety, boundaries are quite important as you never want to tresspas,build or buy into someone’s piece of land. It could lead to loss of money and you can be sued for it. Therefore the deed should have the boundaries of the property well marked so that the transaction can be effected.
2. Conveyance clause
This section stipulates how the seller will transfer the tittle of ownership to the buying party. In the clause, there are also indications of how payments will be done and the dates. The terms of transfer should always be mutually accepted by both the buyer and the seller. This will lead to a mutual agreement when the transactions are taking place.
All parties involved should have their signatures on the deed. This includes witnesses, advocates,agents, buyer,seller and the conveyor himself. The signatures act as an affirmation of the transfer of ownership tittle. Its important to note that once a seller has signed, it means he has transfered ownership rights to the buyer.