Property Lawyer: Interview with Michael Butcherine
Becuase we focus solely on family law, we regularly work with other solicitors to ensure our client’s legal needs are met. We frequently obtain assistance from property lawyers and conveyancers to asisst our client’s with property transfers.
This week we speak wtih Micheal Butcherine, principal solicitor at Michael Butcherine Solicitor.
What is the difference between a licenced conveyancer and a solicitor who does conveyancing?
Conveyancing is the process of transferring real estate property. A licensed conveyancer is a person who has undergone specialist training to deal with this type of transaction. A conveyancing solicitor learns all types of law, and chooses to deal with real estate property. Both are regulated by their professional bodies.
What kind of things does a conveyancing solicitor or licensed conveyancer do for a family law client?
Generally, a property professional acts in support of the client’s family law solicitor. This is often carrying out the property transactions required by the Family Court order or agreement, but can include taking interim steps, such a making property searches. Sometimes a family lawyer will confer with a property specialist when working out what sort of orders will work best for a client.
Do I have to use a conveyancer or solicitor to transfer a property?
All conveyancing in NSW is now done electronically, and whoever does it must be an approved part of the electronic conveyancing system. Practically, this means that there is very little capacity for an individual to do their own conveyancing.
What is PEXA? Do I have to use PEXA if I don’t want to?
Conveyancing in NSW can only be done using an ELNO – an Electronic Lodgment Network Operator. There are only two ELNOs. PEXA was the first one established, and is the market leader. Sympli is an alternative.
What are the fees for a family law transfer of property?
The conveyancing solicitor or licensed conveyancer will charge professional fees based on the complexity of the transfer arrangements. You will be able to get an estimate before making a commitment. In addition to professional fees, you would expect to pay a standard PEXA fee ($123.97) and perhaps one or more NSW Land Registry Service registration fees ($154.20).
If I have Orders from the Court to transfer a property to or from my previous spouse or partner, do I need to pay stamp duty?
No. As long as the transfer is exactly the same as ordered by the Court, there will be no stamp duty payable.
How long does it take to transfer a property in a family law matter?
The electronic transfer of property can happen quite quickly. Quite often there are complicating factors, such as a mortgage to be cleared, or a new mortgage to be arranged. Usually, if you can provide your conveyancer with the information they need, the transfer can happen within weeks.
What sort of documents should a family law client bring to their appointment?
The conveyancer will be required to formally identify you for the conveyancing transaction. You should bring with you your identity documents and a copy of the actual or draft Court order, as well as a recent rates notice for the property.
If the family law matter is not settled before the property is sold, can you hold the proceeds of sale in your trust account? How do I get it back when everything is sorted out?
Yes. Most conveyancers operate a trust account, where clients’ money can be kept. These accounts are well protected by insurance and audit requirements, so your money will be quite safe there. If it’s being kept for the purposes of a settlement, then the conveyancer will not be able to release it until the agreement is formally made. The money does not earn interest while it is in the trust account.
We would like to thank Michael for taking the time to answer our questions. If you would like to get in touch with Michael, his contact details can be found at http://www.butcherine.com.au/
Please note: the information in this article is general in nature and is not legal advice. For legal advice about your circumstances, contact us to make an appointment with one of our solicitors.
