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Encyclopedia > Conveyance
Part of the common law series
Acquisition of property
Gift  · Adverse possession  · Deed
Lost, mislaid, and abandoned property
Bailment  · Licence
Estates in land
Fee simple  · Life estate  · Fee tail
Concurrent estate  · Leasehold estate
Conveyancing of interests in land
Bona fide purchaser  · Torrens title
Estoppel by deed  · Quitclaim deed
Mortgage  · Equitable conversion
Limiting control over future use
Restraint on alienation
Rule against perpetuities
Rule in Shelley's Case
Doctrine of worthier title
Nonpossessory interest in land
Easement  · Profit
Covenant running with the land
Equitable servitude
Related topics
Fixtures  · Waste
Assignment  · Nemo dat
Other areas of the common law
Contract law  · Tort law
Wills and trusts
Criminal Law  · Evidence
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Conveyancing is the act of transferring the ownership of a property from one person to another. The buyer needs to ensure that he or she gets good 'title' to the land; i.e., that the person selling the house actually has the right to sell it. The system of conveyancing is designed to ensure that the buyer gets the land together with all the rights that go with it, and knows about any restrictions in advance. Image File history File links Legal portal image File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Property law is the law that governs the various forms of ownership in real property (land as distinct from personal or moveable possessions) and in personal property, within the common law legal system. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... A gift, in the law of property, has a very specific meaning. ... In real estate law, adverse possession is a means of acquiring title to anothers real property without compensation. ... A deed is a legal instrument used to grant a privilege. ... In the common law of property, personal belongings that have left the possession of their rightful owners without having directly entered the possession of another person are deemed to be lost, mislaid, or abandoned, depending on the circumstances under which they were found by the next party to come into... Bailment describes a legal relationship where physical possession of personal property (chattels) is transferred from one person (the bailor) to another person (the bailee) who subsequently holds possession of the property. ... A license or licence is a document or agreement giving permission to do something. ... Fee simple, also known as fee simple absolute or allodial, is a term of art in common law. ... A life estate, at common law is an estate in real property that ends at death. ... Fee tail is an obsolescent term of art in common law. ... A concurrent estate or co-tenancy is a concept in property law, particularly derived from the common law of real property, which describes the various ways in which property can be owned by more than one person at a given time. ... A leasehold estate is an ownership interest in land in which a lessee or a tenant holds real property by some form of title from a lessor or landlord. ... A bona fide purchaser (or BFP), in the law of real property, is a person who purchases land for value, without notice of any other partys claim to the title to that land. ... Torrens title is a system of land title where a register of land holdings maintained by the state guarantees indefeasible title to those included in the register. ... Estoppel by deed is a doctrine in the law of real property that arises where a party conveys title to land that he does not own to a bona fide purchaser, and then acquires title to that land. ... A quitclaim deed is a term used in property law to describe a document by which a person disclaims any interest he or she might have in a piece of real property, and passes that claim to another person. ... A mortgage (Law French for dead pledge) is a device used to create a lien on real estate by contract. ... Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time that they sign a contract binding them to purchase the land at a later date. ... A future interest is one of a variety of potential claims to ownership of property, in particular real estate. ... A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise transferring their interest in the property. ... The rule against perpetuities is a rule in property law which prohibits a contingent grant or will from vesting outside a certain period of time. ... The Rule in Shelleys Case, dating from the 14th century, is a famous if now almost useless legal rule that is now the bane of most first-year law students studying common law real property law. ... In the common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to real estate by descent over taking title by devise or by purchase. ... A nonpossessory interest in land is a term of the law of property to describe any of a category of rights held by one person to use land that is in the possession of another. ... An easement is the right of use over the real property of another person. ... A profit, in the law of real estate, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. ... A covenant running with the land, in the law of real property, is a nonpossessory interest in land in the form of an agreement between adjoining landowners to do or not do something with relation to the land that they respectively occupy - to maintain a fence, for example, or not... An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land, requiring the landowner to maintain certain practices with respect to the land (e. ... In the law of real property, fixtures are anything that would otherwise be a chattel that have, by reason of incorporation or affixation, become permanently attached to the real property. ... Waste is a term used in the law of real property to describe a cause of action that can be brought in court to address a change in condition of real property brought about by a current tenant that damages or destroys the value of that property. ... An assignment is a term used with similar meanings in the law of contracts and in the law of real estate. ... Nemo dat quod non habet, literally meaning no one [can] give what they dont have is a legal rule, sometimes called the nemo dat rule that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title. ... A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. ... In the common law, a tort is a civil wrong for which the law provides a remedy. ... In the law, a will or testament is a document by which a person (the testator) regulates the rights of others over his property or family after death. ... The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation and the event of such persons incapacity or death, also known as the law of successions in civil law. ... Criminal law (also known as penal law) is the body of law that punishes criminals for committing offences against the state. ... The law of evidence governs the use of testimony (eg. ... // Use of the term The concept of property or ownership has no single or universally accepted definition. ...


A typical conveyancing transaction, whether a sale or purchase, contains two major 'landmarks', which are exchange of contracts and completion, plus the three stages: before contract, before completion and after completion. A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. ...


United Kingdom

In England and Wales this is usually done by a solicitor or a licensed conveyancer. It is also possible for someone to do their own conveyancing to save on costs. Under English law agreements are not legally binding until contracts are exchanged. The normal practice is for the buyer to negotiate an agreed price with the seller then organise a survey and have the solicitor (or conveyancer) carry out their searches and prepare the contract. It takes on average 10-12 weeks to get the deeds to the property, and during this period either party can pull out at any time. This gives rise to a risk of gazumping. In the United Kingdom and countries having a similar legal system the legal profession is divided into two kinds of lawyers: the solicitors who contact and advise clients, and barristers who argue cases in court. ... English law, the law of England and Wales (but not Scotland and Northern Ireland), also known generally as the common law (as opposed to civil law), was exported to Commonwealth countries while the British Empire was established and maintained, and persisted after the British withdrew or were expelled, to form... The verb to gazump came to prominence in the 1980s when rapid house price inflation brought the temptation for sellers to ditch agreements at the last minute and accept higher offers. ...


The position in Scotland under Scots law is that an offer for property purchase is legally binding. This results in a system of conveyancing where buyers get their survey done before making a bid through their solicitor to the seller's solicitor. Sellers normally set a closing date for offers, then provide written acceptance of the best bid. The buyer's solicitor then carries out searches and prepares the contract, and while adjustments can be negotiated for unanticipated findings, both parties are bound by acceptance of the offer. This makes the problem of gazumping a rarity. The disadvantage for the buyer is that is that they have to bear the cost of the survey for unsuccessful bids, and trials have been made of a system where the seller arranges for one survey available to all bidders, but the quicker progress to a binding agreement can considerably reduce stress. Scotland (Alba in Scottish Gaelic) is a country in northwest Europe and a constituent nation of the United Kingdom. ... Scots law (or Scottish law) is the law of Scotland. ...


United States

The conveyancing process in the United States varies from state to state depending on local legal requirements and historical practice. In most situations, three attorneys will be involved in the process: one each to represent the buyer, seller, and mortgage holder; frequently all three will sit around a table with the buyer and seller and literally "pass papers" to effect the transaction. (Some states do not require all parties to be present simultaneously.) In order to protect themselves from defects in the title, buyers will frequently purchase title insurance at this time. In most states, a prospective buyer's offer to purchase is made in the form of a written contract and bound with a deposit on the purchase price; the offer will set out conditions (such as appraisal, title clearance, inspection, and financing) under which the buyer may withdraw the offer without forfeiting the deposit. A policy of title insurance is a contract of indemnity between the insurance company and the owner of an interest in real property. ...


External link

  • Council for Licensed Conveyancers (UK)
  • E-Conveyancing (UK)
  • National Land Information Service (UK)
  • DIY Conveyancing (UK)

  Results from FactBites:
 
Student Transport - Conveyance Allowance (307 words)
Application forms for conveyance allowances are available from the school your child attends.
Conveyance allowances are available to assist eligible students with the cost of travel to school.
School conveyance Allowance claims for Semester 1 must be lodged by Friday March 11 if a school is to receive payment in Term 1.
Fraudulent conveyance - Wikipedia, the free encyclopedia (887 words)
A fraudulent conveyance, also fraudulent transfer is a civil cause of action.
However, it is not uncommon to see fraudulent conveyance applications in relation to bona fides transfers, where the bankrupt has simply been more generous than they should have or, in business transactions, the business should have ceased trading earlier to avoid giving certain business creditors an unfair preference (see generally, wrongful trading).
This lies when a transfer is made by a debtor with intent to defraud, hinder, or delay his or her creditors.
  More results at FactBites »

 
 

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