Conveyancing refers to the transfer of legal ownership in property law. Typically there are three main parts to the act of buying and selling a home:
- Once an offer is accepted on a property the seller is responsible for the drawing up of a legal contract describing the property's details, such as boundaries, sale price etc.
- Exchange of contracts - the seller and buyer sign and exchange legally binding contracts.
- Completion - Money is transferred from the buyer to the seller, legal documents are transferred and keys are given to the buyer ready for them to move in to the property.