Editing Conveyancing (section)

{{Short description|Transfer of legal title of property}}
{{Other uses|Conveyance (disambiguation)}}
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{{Property law}}

In law, '''conveyancing''' is the transfer of legal [[Title (property)|title]] of [[real property]] from one person to another, or the granting of an [[encumbrance]] such as a [[mortgage law|mortgage]] or a [[lien]].<ref>Black's Law Dictionary (7th ed. 1999)</ref> A typical conveyancing transaction has two major phases: the exchange of [[Real estate contract|contracts]] (when [[equitable interest]]s are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).

The [[Land tenure|sale of land]] is governed by the laws and practices of the jurisdiction in which the land is located. It is a legal requirement in all{{citation needed|date=January 2024}} jurisdictions that contracts for the sale of land be in writing. An exchange of contracts involves two copies of a contract of sale being signed, one copy of which is retained by each party. When the parties are together, both would usually sign both copies, one copy of which being retained by each party, sometimes with a formal handing over of a copy from one party to the other. However, it is usually sufficient that only the copy retained by each party be signed by the other party only — hence contracts are "exchanged". This rule enables contracts to be "exchanged" by mail. Both copies of the contract of sale become binding only after each party is in possession of a copy of the contract signed by the other party—i.e., the exchange is said to be "complete". An exchange by electronic means is generally insufficient for an exchange, unless the laws of the jurisdiction expressly validate such signatures.

It is the responsibility of the buyer of real property to ensure that he or she obtains a good and marketable title to the land—i.e., that the seller is the owner, has the right to sell the property, and there is no factor which would impede a mortgage or re-sale. Some jurisdictions have legislated some protections for the buyer, besides the ability for the buyer to do searches relating to the property.

A system of conveyancing is usually designed to ensure that the buyer secures title to the land together with all the rights that run with the land, and is notified of any restrictions in advance of purchase. Many jurisdictions have adopted a system of [[land registration]] to facilitate conveyancing and encourage reliance on public records and assure purchasers of land that they are taking good title.<ref>Dukeminier et al., Property 559 (6th ed. 2006)</ref>