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Verifying and agreeing the property transfer deed

Verifying and agreeing the property transfer deedIn order to draft a transfer deed, the buyer conveyancing solicitor should have access to the following documents:

  • The contract papers, so as to ensure that the draft reflects the terms of the contract accurately.
  • The official copy entries or the unregistered title deed (as the case may be) because the contract may sometimes make reference to issues on title that needs to be repeated in the transfer deed.
  • A precedent on which the transfer document is prepared.

Once the draft is prepared, two copies of the document shall be sent to the seller’s conveyancing solicitor for approval. The seller’s conveyancing solicitor also checks for accuracy of facts and terms of the contract and approves or returns the draft with the revised document within four working days of delivery. The choice of wordings and style are the buyer’s prerogative; the seller can only suggest amendments to the extent that the wordings reflect the terms of the contract.

Once all revisions are finalised, the buyer’s conveyancing solicitor sets out to prepare a clean copy (also known as engrossment copy) of the transfer deed. Again, this must be checked thoroughly to ensure that all amendments are included and that they reflect the terms of the contract, before sending it to the seller’s conveyancing solicitor for client’s approval and signature.

This engrossment should be sent by the buyer’s conveyancing solicitor at least five working days prior to the date of completion.

Photo courtesy: ilovebutter

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