Things you need to know about licensed conveyancers and solicitors
People sometimes can’t understand the legal aspects of home convey, i.e. home buying, but it is not the only thing that troubles them. Relatives and friends recommend several different well known legal bodies in order to assist them in the process of home convey or simply conveyancing. In order to learn about the process, its legal aspects, who is legally authorized to assist with home buying or selling, and which one is better among the legal parties, read the below definitions.
It is the legal transfer of property from a seller to the buyer, including all its rights and legal documents.
Who is the authorize person to do conveyancing?
When we talk about lawfully authorize, it means the person authorized by law to do the procedure following all the step and procedures as define by the body of law governing the process of conveyancing.
Major differences between solicitors and conveyancers
Before we move further, first we should know the definition or meaning of each one of them:
He/she is the person who is legally authorized to represent a single party or both parties in the process of transfer of ownership of a property from the seller to the buyer.
He/she is legally authorized to represent a single party in the process of transfer of property title, documents, or rights to the buyer from the seller.
You already know that both solicitors and licensed conveyancer are legally authorized for the process of home convey. Below heading will explain other major differences between both the parties.
- Regulatory Difference
Both represent and assist their parties in home buying or selling and both are regulated by law, following all the regulatory procedures in buying or selling but they are regulated by different legal bodies. Licensed Conveyancers are regulated by CLC (Council of Licensed Conveyancers), whereas solicitors are regulated by SLA (Solicitors Regulation Authorities).
- Licensed Conveyancers act for both partiesHe/she can represent both parties in the process of home convey. Representing both parties gives freedom so to act in the best way possible, however, it is controversial how a person can represent both parties. While there are questions about his sincerity in representing both parties and that might create possible conflicts among buyers and sellers.
- Solicitors represent a single partyHe/she is authorized to represent either home buyer or seller in the process of property transfer.
- Referral FeesSRA Code of Conduct Rule 9 requires solicitors to disclose any referral paid out to marketing or referral agencies. Licensed conveyancers on the other hand, are not required to disclose any referral fee paid to any other referral agency or marketing firms.
- Training and PracticeSolicitors are required to undertake a four year degree course and later 2 years legal practice and also a 2 year legal contract with a senior/practical solicitor in order to qualify to undertake any legal procedure for the purpose of home convey. Licensed conveyancer are authorized by CLC, they can undertake practical courses to shine their career of home buying or selling while working already in their field.
- Multi disciples for SolicitorHe/she can work in other fields of law such as family law, tax law, transfer of will, criminal law, and other legal sectors.
Who to choose, Solicitor or Licensed Conveyancer
Reading about the difference among solicitors and licensed conveyancer, you now have learned few aspects of home convey. Now it is up to your personal interest as both the authorities have all the legal assets to undertake any type of legal contracts for transfer of property title from seller to buyer.
Still Need Advice?
If you are still confused who to choose among both authorized entities, you can contact NBM group of lawyers who will give their professional advices in the transfer of any kind of property from sellers to buyer. They have their local offices in many major cities of England and Wales. For more information, visit their website https://www.nbmlaw.co.uk