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A Conveyancer is a specialised and properly licensed legal practitioner who handles all of the aspects of a Conveyance.
When someone speaks of a Conveyance, this is the process which begins with the Sale and Purchase Agreement and ends with the transfer of legal ownership of property (title) from seller to buyer.
In some countries, Conveyancing can be dealt with by licensed Conveyancing firms.
As of 2014, regulations were brought into effect which restricted the legal process of Conveyancing of Dubai-based property.
As a result, Conveyancing in Dubai is only available from law firms that are duly licensed to offer legal services in the in Emirate of Dubai.
Who needs conveyance in the UAE?
Anyone who is buying or selling a property, gifting part-ownership to a spouse or other family member or even applying for their initial title deed should use a Conveyancer to handle the legal aspects involved, ensuring a smooth, safe transaction.
A property sale is, in terms of money value, one of the largest legal transaction which most people deal with in their lifetime.
Like most legal transactions, it is based on a contract (the property sale contract) which must be legally enforceable and, like any other legal matter, poor planning and mistakes can lead to expensive court hearings and long delays in settling disputes.
That's why in most countries around the world, legal Conveyancers are almost always used to complete the work, ensuring that there's no mistakes and that the client is protected, under the law.
Benefits of a Buyer needing Conveyance
- Advise on the proposed purchase transaction
- Hold monies and documents in Escrow
- Deal with the regulatory requirements
- Work the Realtors and other involved parties
- Create financial settlement statement
- Manage the bank or finance providers
- Give you timely, accurate feedback
- Ensure pre-transfer tasks are complete
- Handle title registration and transfer
- Managing of bank matters and other transactions
- Filing of tax returns
- Entering into contracts
- Copy of Buying, selling or managing real estate and other properties
- Settling claims
Benefits of Seller needing Conveyance
- Review the property transaction
- Hold deposit monies and documents in Escrow
- Deal with the regulatory requirements
- Manage the bank or finance providers
- Give you timely, accurate feedback
- Create financial settlement statement
- Ensure pre-transfer tasks are complete
- Handle title registration and transfer
Buying a property in the UAE can be a minefield to the first time buyer. From the mortgage side Casa Capital will guide you through the entire process from A-Z. From the property side your agent should cover this fully from start to finish too, however some agents represent both buyer and seller. It's at these times a conveyancing specialist should be brought in to assist you,to make sure your contract is fair and reciprocal and the timescales noted are obtainable.
Should you wish to discuss this further please do not hesitate to contact us and we will happily introduce you to our affiliated partner company who specialise in UAE Conveyance.
