Friday, October 08, 2010

What is Conveyancing?

Many of the transactions we do on a daily basis in the workplace, other areas of business and private life include some type of transfer or exchange. This spans from minor activities such as purchasing food, paying for a hair service and basic barter to major transactions like supplying a factory with raw materials, making payments on a car or changing ownership of company stock and shares. Conveyance refers to the detailed steps that take place to facilitate and insure the transfer. Conveyancing is a term used to refer to transfer of bulk goods and materials or the transfer of ownership of land from one person to another.

Conveyancing may not be an easily recognizable term for some. The term varies in popular use mainly in the Commonwealth, UK, US and Australia. It comes from the root to convey which, of course, means to transport or even transfer. The word conveyance itself is defined as transportation, delivery, transfer. Therefore, from these definitions we can see that the most common and general explanation is to transfer. Some dictionaries define it in terms of its root to convey while others define it in terms of its better known business or legal definition, that is, to transfer the title to a property such as land. This is the context for which the term takes on its legal definition.

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The definition of the term can further be demonstrated by thinking of a water main connected to pipes which convey water from the main to homes and offices. The water can be said to be transferred from the source to the eventually users. Conveyance describes the act of moving the water as well as the process. The term when linked to a change of ownership can be illustrated by thinking of the previous example mentioned. When a businessman seeks to get raw materials for his factory there are several steps to be taken. First, he must ensure that he can get the raw materials and any laws, terms etc that need to be met to facilitate the transfer are done. Secondly, there must be a method of transfer in place such as a truck to transport or a method of delivery. Conveyancing also requires that there be some official agreement in place to document the transfer. The transfer must be complete before the process of conveyance can be deemed successful. If the end result is not a transfer then conveyance has not taken place.

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