Glossary
Glossary of terms and acronyms related to Australian banking, finance and investments.
Conveyancing
Conveyancing is the process of officially transferring a property title from one party to another. There are typically two steps in a conveyance, known as 'landmarks.' The first is the exchange of contracts, during which the equitable title is passed. The second is completion, the final step wherein the legal title is passed. In Australia, conveyancing is usually facilitated by a licensed conveyance or solicitor, although individuals are allowed to handle it themselves. Conveyancing typically takes 4 to 6 weeks, as it involves title searches, checking for restrictions, reviewing the contract, and preparing the legal documents.
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