A conveyance is legal transaction and should be performed by lawyers not conveyancers:
So what are the points of differentiation?
graduated in the top 5% of the state in HSC (VCE) to pass the entrance exam to get into uni law, in my case, Melbourne University
Is usually an ex legal secretary
Has a law degree
Has no formal tertiary legal qualification
Completed 12 months of articles under a senior lawyer before admission
Has no minimum qualifying period of legal practice.
Is a member of the Law Institute and is responsible to them for disciplinary code
violation and to the Legal Ombudsman
Is not a member of any body
Has professional indemnity insurance up to 1million
Has no mandatory insurance cover.
Has a trust account that is reconciled and balance each month and audited by the Law
Institute auditor each year and also at random
Has no trust account, no auditor
Is governed by a set of rules of practice called the Solicitors (Audit and Practising Certificate) Rules (“the rules”) as well as the Legal Practice Act (Vic) 1958 (“the Act”) together with the ethical and professional standards set by the peers and society.
Is governed by no rules, no standards.
Is allowed to draft legal document ie. A Section 32, Vendor’s Statement, Contract of Sale, Section 27 Statement (for the release of deposit) and Transfer of Land, Statement of Goods.
Is not allowed to draft legal documents or to give legal advice and can be prosecuted by the police for this.
All a conveyancer can legally do is to perform a purely secretarial or administrative task. If the conveyance states that a lawyer is retained to perform all legal work then ask who that lawyer is, and ask what is the basis of the retainer?
How are you charged by that lawyer and can you choose your own lawyer?
Is a barrister and solicitor and an officer of the Supreme Court and the High Court.
So what issues does your lawyer need to address in the conveyancing transaction?
here are just a few questions (in alphabetical order) to ask your conveyancer before you decide to use their service instead of that of a lawyer!
Why engage someone to control possible the largest financial transaction in your life and to control your (hard earned) money when that person is or may be:
• ill equipped to perform it professionally, and
who in so doing may be in breach of the
• ethics and
• professional standards and
• who may have no professional body to report and
• who may not have an independently audited trust account and
• who many be liable to prosecution for engaging in unqualified legal conduct?
Using a conveyancer instead of a lawyer is like.
• Using a nurse instead of surgeon to perform surgery, (hope it’s not your brain and hope it not your child being operated on),
• Using an assistant instead of a dentist to extract or fill your teeth (does it hurt yet?)
• Using a bookkeeper instead of an accountant to complete your tax returns, (hope you get all your lawful tax deductionsl)
• Using a hostess instead of a pilot to fly the plane (hope you have safe trip!)
And using a conveyancer instead of a lawyer has the same chance of a successful outcome!
How much do you really save?
All up what it costs disbursements rates and planning certificates settlement, lodging and stamping fees charged ?
Maybe $100.00 to $150.oo.?
Over the entire valued of the transaction say $250,000.00 $500,000.00, $750,000.00 that is what %? On a $500,00.00 purchase, it is say 0.0002% of the purchase price.
Have you heard the proverbs that:
• "You get what you pay for?"
• "if you pay peanuts, then you get monkeys?"
• "are you being penny wise, but pound foolish?
• "If it sounds too good to be true, then it is too good to be true!"
• "Don't compare apples with oranges".
Why bargain away your property and your hard earned money?
Ask for an upfront quote in writing before you start but you want an all up figure:
title search and rate and planning certificates (list them)
company search (if required)
(watch the fine print! Plus plus plus )
There is an old Italian saying that a very wise, very old Italian man once told me which roughly translated reads:
"Whosoever refuses to pay the Master, shall later pay both the servant and his Master!"