Why You Need a Conveyancer to Help with Land Acquisition
Most people understand how important it is to engage the services of a conveyancer when they are buying or selling a home. Yet they may not realise the importance of this individual when it comes to land division. What do you need to know about this process and the correct approach?
Subdividing Land
If you intend to buy land for subdivision, you may be working in an area that is of interest to many different parties. It's crucial, therefore, to bring in the conveyancer at the earliest opportunity so that they can conduct some research and see what is involved.
Getting Consent
For example, the land in question may be owned by a number of different banks or financial institutions due to some pre-existing subdivision. In fact, there may be individual tenants in place, and a third party may have an encumbrance which will need to be revealed. It's crucial to get consent from all of those parties before any further progress is made. Bear in mind, however, that this can be a time-consuming process with a lot of negotiation.
Title and Registration Complexity
In this case, you may find that there are a number of different titles pertaining to the land in question and you will need to gain control over these no matter how many different parties may have an interest in the land. Don't be surprised, therefore, if there are additional fees associated with this due to the complexity. You may also have to pay local government fees to register each of the titles at the relevant office.
Additional Requirements
If the land in question is to be registered as a subdivision, then you may also need to ask your conveyancer to carry out additional work, often in association with a surveyor. They may have to draw up specific regulations that govern how each tenant may act and outline how the community is to be controlled. If development work needs to take place before tenants can occupy the property, then a separate contract may have to be drafted, once again by the conveyancer, to outline the plans ahead.
Experience Essential
It is even more important to bring in an experienced conveyancer for this type of advanced work. Before you go too far with your plans, therefore, reach out to a qualified individual so that they can provide you with some initial advice and get to work on your behalf.
To learn more, contact a conveyancer.
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