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What does Conveyancing involve?
Conveyancing is a branch of legal practice that deals with the transfer of property from one party to another. Examples of properties that can be transferred include bungalows, individual units in apartments or condominiums and even empty plots of land. The conveyancing process involves the preparation and signing of various legal documents such as the Sale and Purchase Agreement, Memorandum of Transfer (Form 14A) and loan documents.
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What does the Conveyancing Toolkit offer?
The Toolkit is an effective tool to facilitate legal practitioners/pupils who have little or no practical knowledge in the area of conveyancing or conveyancing practitioners who are looking for a quick guide/solution in matters relating to conveyancing by taking advantage of the well-crafted procedures and precedents/templates available on this online platform.
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What can you gain from the Conveyancing Toolkit?
The Toolkit is designed in such a way that it simplifies the process of conveyancing transactions, provides on-point practical discussions via case studies and breakdown of essential tasks in the form of checklists and flowcharts.
INTRODUCTION
Conveyancing refers to the legal process of transferring the ownership of an immovable property from one party to another. Conveyancing in Malaysia is procedural in nature, where each transaction consists of multiple stages, time frames and processes.
Generally, conveyancing involves the sale and purchase of a property either directly from a developer or an individual (sub-sale). However, it may also include other forms of transactions, such as transfers of property under love and affection.
Moreover, since it is common for purchasers to apply for loan to finance the purchase of the property, the preparation of loan documentations is also dealt with under conveyancing.
Overall, conveyancing is a complex and tedious process. Various issues may arise during the transaction, including potential encumbrances on the property or non-issuance of the property title by the developer.
Therefore, legal practitioners must observe the procedures and precedents related to conveyancing to ensure that the transaction proceeds smoothly and that the property transfer is valid. Adherence to the stipulated time frames is crucial to prevent any loss or penalties for any of the parties involved in the transaction.
