Australia
In Australia much of the land which was first colonised by the United Kingdom is still Common Law (also known as Old System). However since the introduction of Torrens title in 1858 most land is now under the new system of conveyance.
Conveyancing in Australia is usually completed by a solicitor or a licensed conveyancer. There are also kits available if the buyer wishes to complete the process themselves, but due to the complexity of varying state and council laws and processes, this is usually not recommended.
A common conveyance by a solicitor or licensed conveyancer usually takes 4–6 weeks. Most firms offer fixed price services which usually includes costs of searches, legal advice and other outlays.
In most states and territories a typical conveyance includes, but is not limited to, the following:
- Title Searches
- checking for encumbrances and restrictions on the property
- ensuring any special conditions mentioned in the contract are met
- making sure rates, land tax and water consumption charges are paid by the appropriate party
- arranging for the payment of fees and charges
- preparation of legal documents.
Searches tend to take up the bulk of the conveyance. Due to the three level system of government in the country (federal, state and local), it must be made sure that all rights and title are properly awarded to the seller. Most information is retrieved from state or local (council) authorities. It is important to note that conveyancing processes, legal documentation, contract requirements and search requirements vary between each state and territory.
A standard search package could include:
- Company search
- Contaminated Land search
- Council Property search
- Full Council Inspection of Records search
- Land Tax search
- Main Roads search
- Registered Plan Search or Building Units/Group Titles Plan Search
- Titles Search & check title search
Requirements, searches and costs can vary from state to state, depending on local property legislation and safeguards.
Read more about this topic: Conveyancing
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