• Partnership Disputes

    Partnership Disputes

    We have resolved hundreds of disputes between business partners and understand they are not easy.

    That’s why you need to engage a specialist in resolving these types of disputes.

    LEARN MORE
  • Trade Disputes

    Trade Disputes

    When it comes to business disputes, we have seen them all.

    We are experts at enforcing agreements and intellectual property rights to protect your business.

    LEARN MORE
  • Employee Disputes

    Employee Disputes

    We are all too aware of the damage an employee can do if they defect to a competitor with confidential information.

    We specialise in resolving disputes of this nature.

    LEARN MORE
  • Debt Recovery

    Debt Recovery

    Getting paid on time and in full is so important for every business.

    Our track record proves we know what we are doing.

    LEARN MORE
  • Business Transactions

    Business Transactions

    We are first and foremost business lawyers for business owners.

    We will give you the tools you need to take advantage of commercial opportunities whilst ensuring minimal risk.

    LEARN MORE
ENQUIRE

How to Know Whether You Need a Lawyer or a Conveyancer?

Transactions of home ownership, known as conveyancing, is an intricate area of the law. There are certain specific requirements that parties to the transaction need either a conveyancer or lawyer to do on their behalf. Whilst the role of a lawyer and conveyancer can overlap, they are very different.

But how do you know which one you need?

Often, whether you need a lawyer or conveyancer will depend on the complexity of the transaction, whether there is a dispute and the level of service you require.

Role of a Lawyer vs Conveyancer

The key differences between a lawyer and a conveyancer are –

  Lawyer Conveyancer
Can assist and provide advice when complex legal issues arise
Can provide advice about other legal matters which may affect the conveyance
Can draft complex special conditions and review contracts of sale
Better protection from risk
Access to the Fidelity Fund for you in the event of fraud
Has a greater understanding of overlapping areas of law
Is likely to have a lower set fee
Can affect property transfers

Legal Advice and Issues

Property transactions can include very complex and varied legal requirements. A lawyer can provide you with legal advice which a conveyancer cannot. For example, there may be complicated overlap with family law, deceased estates, special conditions or subdivision clauses which you will benefit from having legal advice on prior to proceeding with the transaction.

Even where these more complex issues don’t appear at the start of the transaction, they can develop over time. For example, we frequently deal with breaches of a contract of sale, delays in settlement and what to you can do if you don’t want to proceed with the transaction. In any of these scenarios, a conveyancer would need to refer your matter to a lawyer. This means you need to deal with a new lawyer and again explain the background of the transaction. This will be more costly and time consuming. Engaging a lawyer from the beginning means that these issues can be dealt with as the matter progresses.

Risk Mitigation and Fraud Protection

Lawyers are bound by very strict rules, which require them to act ethically and in your best interests. These rules are for the benefit of their clients.

Lawyers are also required to have insurance, which you may be able to rely on for protection from any errors caused. Engaging a lawyer will also allow you to access the Fidelity Fund for compensation if your property or money has been lost due to dishonesty or fraud.

These stringent rules and back up protections that are in place, provide additional peace of mind when dealing with large deposits and settlement sums.

Knowledge of Legislation and Processes

Lawyers are required by law to maintain at least 10 points of continued professional development each year. This means that a lawyer may be more up to date with case law and property legislation.

Cost

Conveyancers generally offer a cheaper conveyancing fee than lawyers. However, conveyancers are also limited in what they can provide to you through the conveyancing process. They cannot provide legal advice, and generally will refer matters to lawyers where issues fall outside of the agreed contract.

These are matters which you must weight up when deciding whether a lawyer or conveyancer is appropriate for what you need.

If you need assistance with your property matter or conveyancing transaction, contact an experienced lawyer at Taurus Legal Management on (03) 9481 2000 or info@tauruslawyers.com.au.

 

 

 

Posted by Taurus Legal Management