The power of attorney is a legal authorization given to one person or party, as a right to act and make decisions on behalf of another person or party. Usually, the person who is “sharing” their authority is called the principal, while the person being authorized to act is referred to as the agent. Sometimes, the agent is the attorney, sometimes referred to as the attorney-in-fact.
There are quite a few scenarios where the power of attorney can be used. Sometimes, a medical illness or disability is the reason the principal cannot be present for certain legal transactions. Regardless of the reason, the agent only needs to exercise this power in the absence of the principal. One common case where the power of attorney is usually granted and used is conveyancing.
What is Conveyancing?
Conveyancing is the legal process of transferring ownership of a property from one person to another. This is usually needed in a situation, where a sales agreement has been reached. A conveyance can also be used to describe the written document that was used in the process. To facilitate this process, a conveyance lawyer is needed.
Why do You Need A Conveyance Lawyer?
Many people who are looking to buy property usually use a conveyance lawyer for several different reasons. In many cases with property purchases or sales individuals entrust power of attorney to their conveyance lawyer. This is usually due to the large amount of legal processes surrounding such transactions, as highlighted below:
- A conveyance lawyer is required to draw up documents that facilitate the entire process. These documents include legal contracts and agreements between both parties. Apart from drawing up these documents, conveyance lawyers also help make sure that all necessary registrations for the documents that are required, are done properly.
- A conveyance lawyer, under your authorization, can also do a very thorough search through all the legal establishments that might be concerned with the property and let you know everything about it. Sometimes, there are land disputes, unpaid fees and even pending cases based on certain violations committed by the previous owners. Some properties could also be very prone to natural inconveniences such as flooding. These are things a prospective buyer might not know without a conveyance lawyer.
- There is also a place for legal advice in the role of a conveyance lawyer. In some cases, and this could be on a case by case basis, a lawyer can give you advice on the need to add certain documents to the process to give to the buyer for the entire settlement to be properly concluded. If you are the one doing a sale, a lawyer’s job is to help you pursue the contract properly so that you can be made aware of certain details that you probably would ordinarily not remember.
- For the settlement to be concluded, the conveyance lawyer might also need to help you arrange timing between you and the other party. Even though the lawyer might not exactly be involved in the direct exchange of funds, it’s always good for the lawyer to be a part of this process so that they can contact the financial institution – usually a bank – and make all the necessary arrangements.
Depending on what exactly it is you want, the whole process of buying or selling a property can be much easier if a conveyance lawyer is given power of attorney.
