Owning multiple properties can be truly beneficial, for multiple reasons: your own pleasure, the benefits of your loved ones, and gathering extra income from renting. However, this also brings some headaches along, from having to pay more taxes to selling or leaving the properties in your will all the way to potentially losing some properties due to debt.
In all of these cases, you will probably need a consultant or a property lawyer, otherwise known as a conveyancer. They are able to provide advice and legitimate info, prepare documents, and also help throughout settlement processes. A conveyancer can be a solicitor, but it’s not required in every case. However, they must be licensed in the country or territory where you’re handling your property.
Of course, you can handle all of the legal documents and processes yourself, but it is not really recommended. Property lawyers have the proper experience, education, and confidence to do this properly. Let’s go through a few cases you will probably need their help with.
They will help you manage multiple estates
You might find it difficult to administer many properties at once. A lot of documents and taxes have to be handled on time and be in order.
Also, there is the matter of asset titling and designating beneficiaries. The property lawyer will check the properties and see if they cover your beneficiaries and if the unnecessary costs can be avoided.
They will help with property purchasing
Buying a property is not always easy. Providing the money for it is just one part of the process. In addition, all the legal components have to be handled with care and respectful of all the local laws.
Everything depends on the state you live in. For example, some of the procedures differ from South to West Australia, from Victoria to Queensland, even though they are all in the same country. Therefore, if the estate is in Sydney, we recommend that you hire a reputable property lawyer in Sydney, so that they have lots of practice dealing with local laws and property purchasing, selling, etc.
They handle property documents after the owner’s death
Thinking about what to leave to whom after one’s passing is the easy part, although a bit sad. But, the difficult part is when you have to think about legal moves you have to make. It is the last thing you want to have on your mind, but if you don’t do it properly, it can lead to all kinds of troubles for your family (or partners, friends, etc.).
This is where the conveyancer comes in. They handle the matters of your will and the transfers of properties to every beneficiary separately. They also handle some possible debts you might leave behind and trace possible money sources you might have forgotten to mention. This is why it is important for the lawyer to be experienced and to get to know you well. Talk to them sincerely and feel safe.
They tackle complex transactions
Transferring a property is not always simple. Sometimes there are complexities on one side or the other, especially on the side of the seller. A property may drag some debts along, some tax difficulties, or legal problems of other kinds. A good property lawyer has to check every word of every document, every piece of the property’s history, but also do a legal check of the owner or the buyer, if any suspicion arises.
These are just a few of the things that a competent property lawyer can do for you. In any situation where legal advice and help are needed, don’t be shy to call them, talk to them, and let them do their job, so that you can sleep peacefully, knowing your properties are in good hands.
