Qld property buyers and sellers at risk

June 28 2010

Recent reports of problems with property titles after transfers by Queensland "conveyancers" have once again highlighted the risks buyers and sellers ofQueensland property are taking if they don't do some serious checking before signing on the bottom line.

Queensland legislation no longer allows specialist licensed conveyancers, and all conveyancing work must be undertaken by a lawyer. In other states, licensed conveyancers who have done specialist training and are covered by specific legislation and insurance undertake much of the conveyancing work.

However, some recent media reports of problems in Queensland have shown that it is very important in Queensland to ask whether the person doing your conveyancing work is either a registered lawyer themselves or under the direct supervision of a lawyer. If there are problems, the client then has recourse to the Professional Indemnity Insurance of the lawyer through the Law Society of Queensland, and the lawyer is also covered by Fidelity Funds.

However, if the "conveyancer" is neither a lawyer nor under the direct supervision of a lawyer, it is possible that there is no legal recourse if things go wrong.


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