Conveyancing is the legal process of transferring the ownership/ control of property from
the seller (Vendor) to the buyer (Purchaser).

Professionals to practice conveyancing can either be licensed conveyancers or conveyancing
solicitors.
Licensed conveyancers are not solicitors, but they are licensed to carry out much of the
work associated with property transfers. This professional accreditation is granted under the
Conveyancers Licensing Act 2003 (NSW).
Conveyancing Solicitors are lawyers who specialise in property law and negotiate and
represent clients in all property-related matters including conveyancing. When selling or
purchasing property, sometimes there arises more nuanced issues which conveyancers
alone are ill-equipped to handle. Often, when a matter is more complicated than a standard
property sale, a licensed conveyancer must refer their clients to a solicitor.
Galluzzo Lawyers have both licensed conveyancers and property law solicitors and our
comprehensive conveyancing service mean no matter how complicated the matter, our
team have the breadth of knowledge and experience to ensure a successful result.

Solicitors who specialise in property law often provide the most comprehensive service
regarding real estate transactions and property law. A conveyancing solicitor is also required
to have professional indemnity insurance. This offers a greater level of protection in the
event that something goes awry if litigation is necessary.
Having a solicitor also ensures that should the property matter become more complex; you
have an expert who is able to handle more vexing property law questions. Should a legal
dispute arise, senior lawyers and barristers can be easily retained to assist in the legal
issues, something a conveyancer cannot provide.

Most property contracts in New South Wales have standard terms which cover the most
common and most important aspects of any standard property transaction. These standard
terms, however, do not cover everything, especially if the circumstances surrounding the

property in question are particularly complex or the transacting parties have different
needs. Because of this, Special Conditions are included by agreement and can override the
standard terms.
Galluzzo Lawyers have decades of experience in preparing these Special Conditions, tailoring
each contract to suit the needs of each of our clients and ensuring that their property
transfer is as comprehensively protected as possible.

Inclusions and exclusions are the technical terms for fittings and fixtures that may or may
not be sold along with the property. Whether or not they are included in the sale is
determined through negotiation between Purchaser and Vendor though usually, a fixture
will be included unless otherwise stated in the Contract.

Stamp duty is a tax imposed by the State of New South Wales upon property purchases.
Under a standard contract of sale, stamp duty is payable by the Purchaser.
The amount of stamp duty is determined by the purchase price of the property, less any
concession you may be entitled to.

In New South Wales, a Land Title’s Registry acts as a centralised record of property
ownership throughout the State. Each property in New South Wales has its own unique title
reference number. The system functions in a similar way to vehicle registration numbers.

Important dates in the timeline of the conveyancing process include the following:

• The contract date – the date when all parties have signed the contract. Often, other
  important dates are expressed by reference to the contract date. For example, “14
  days after the contract date”.
• The end of the “cooling off period” – this is the period in which the Purchaser can
  pull out of the contract without penalty.
• The date financing is approved – the date the Purchaser must advise the Vendor that
  finance approval has been granted.
• The building and pest inspection date – the date the Purchaser informs that they are
  satisfied with everything once they have inspected the property.
• The settlement date – the date on which settlement is scheduled to occur.

Settlement can take some time and often it spans over two accounting periods. Due to this,
governments and other organisations charge fees to the owners of the property – such as
local government rates, state government levies/ taxes (such as land tax), and body
corporate or strata fees for units.
Conveyancing involves making relevant adjustments in the purchase price to account for
each party's proportional share of these fees. Other adjustments may include rental
adjustments and release of mortgage fees.

Following settlement, transfer documents are lodged with the Titles Registry to officially
record the property’s change in legal ownership. This lodgement is usually performed by the
bank or other financial institution that is providing funds to the Purchaser.
A Notice of Sale will also be forwarded to local councils and relevant authorities notifying
them of the new owners so that they know whom to send Council rates, water bills etc.
These actions usually complete the conveyancing process.