Conveyancing Solicitors

What does the property law in conveyancing entail?

Property law, as the name suggests, speaks to the legal aspects of managing, adjusting, transferring or buying and selling property. Not only does this include land but also the property associated such as real estate or anything fixed to the land. Property law is a very popular branch of law. Not only is it  associated with a very practical profession but it is something that will always be needed. Persons are always expanding or diminishing their holdings therefore persons are always modifying, buying or selling property and real estate. This, of course, is different from the buying and selling of personal property that can be transported. This aspect of law also distinguishes between law intangible property and tangible property. Therefore, this is different from intellectual property law and the study thereof.

Property law in the United Kingdom, just like many other fields of law, varies across the different countries. England and Wales are separate and different in its treatment of property law from Scotland and Ireland. This can be illustrated through one aspect of property law which is conveyancing. For example, English law requires a formal contract to be done up and agreed upon for the agreement regarding the transaction to be legally binding. Conversely, the initial offer and agreement is binding in Scotland. So as shown, property law is not the same even within regions. Property law is continuously being updated and amended. This is why someone versed in the property law in your area is needed.

Buying and selling property can be a lucrative business and even investment. However, if you are not licensed and do not have all the needed information this can be a costly venture. What you do not know and therefore fail to do can have dire legal implications. For instance, if land tax is unpaid then this can accumulate and you can get in trouble with the law for this. Also, there are rules that govern pricing and adjustments to pricing so that your property price reflects the property value. These are just a few of the many things that fall under property law. Property continues to be amended as more and more discussions and rulings take place on persons rights over certain possessions. Also, the granting or not granting of rights to do certain things is governed by the granting or not granting of licenses. For instance, a person who does not have a liquor license should not contract for the conveyance and sale of alcohol on the premises.

Comments are closed.