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If you’re buying or selling a property of any type, you will need a conveyancing lawyer. However, the process may look slightly different for some properties compared to others.
In this article, we discuss the differences between conveyancing for commercial, rural, and residential properties, including the different steps you’ll need to know.
An introduction to conveyancing
When a property is sold, ownership is transferred from the vendor to the buyer. This process is called conveyancing and is a crucial legal step in every property transaction. Conveyancing involves various tasks and each must be completed with care by a qualified professional. Common conveyancing services include, but are not limited to:
- Property title checks
- Apply for grants if eligible
- Prepare or review the sale and purchase agreement
- Anti-money laundering checks
- LIM report reviews
- Settlement fund transfers
- Working with banks and brokers for lending
- Working with local and regional councils for rates
A conveyancer's job is to take care of the complex legal matters associated with a property transaction. They will manage everything for you, ensuring the process is as smooth as possible.
Conveyancing for different property types
While the overall process of conveyancing is similar for most properties, there are some key distinctions to note. We’ve highlighted the differences between rural, commercial, and residential conveyancing below.
Commercial conveyancing
Commercial property transactions typically involve business premises which may be owner-operated, leased, or licensed. Common examples include shops, offices, or warehouses. In most cases, these premises are purchased or sold as part of the business as a whole, not just the property and building.
Compared to residential transactions, commercial property transactions often involve complex legal arrangements and agreements, GST, consideration of taxation, and leases/tenants with ongoing relationships. The actual conveyancing process is substantially similar.
However, due to the more complex nature of these transactions, commercial property conveyancing costs tend to be higher than that of residential properties.
Rural conveyancing
Involves similar complexity to commercial property, whether it is owner-operated, leased, or licensed. Your conveyancing lawyer will need to account for rural tenants, farm workers, assets, and ongoing farming operations. If there is a residential house on the farm, your conveyancer will also need to factor this into their services. Again the conveyancing process is similar.
Residential conveyancing
Residential properties include any property that is used primarily for personal use. For example, this may include a house or apartment where people live. In terms of conveyancing, residential transactions may include some or all of the following services:
- Property title checks
- Apply for grants if eligible
- Prepare or review the sale and purchase agreement
- Anti-money laundering checks
- LIM report reviews
- Settlement fund transfers
- Working with banks and brokers for lending
- Working with local and regional councils for rates
Online conveyancing lawyers NZ
Property law can be confusing so it’s vital to have the right professional support. Regardless of the property type, a property lawyer or registered conveyancer will guide you through the process and find the right solution for you.
The team at Halliwells via LegalPath know that this process can be overwhelming. That's why we offer a hassle-free solution for those who need reliable support for the following transactions:
A seamless online experience
Our conveyancing services are based entirely online, meaning you don’t have to book an appointment or call. Our experts can work more efficiently and, without the usual delays associated with busy law firms, your services are completed much sooner.
Reliable expertise
The team of property lawyers at Halliwells possess the knowledge and expertise to handle every aspect of your transaction. We’re here to take the burden off your shoulders and take care of everything from start to finish.
Transparent progress updates
Our team will keep you regularly informed and be available to answer any questions you may have. Whether you are a homeowner, farmer, or commercial property owner, we will work closely with you to ensure your desired outcome.
Free no-obligation quotes
We understand that you want to make an informed decision. That's why we offer a no-obligation quote, allowing you to compare our services and fees with alternative providers. We aim to provide you with a high-quality service, exceed your expectations, and meet your specific needs.
If you have questions about the conveyancing process or simply want to get started, we are here to help. Request a no-obligation quote from our team so you can decide on your next steps.
