Conveyancing Process

Unless an immediate cash payment is made in full, the conveyancing process.is conducted by a private contract being drawn up by the respective lawyers determining the property, purchase price, form of payment, date of completion, date of possession etc. Just as in European law a deposit, usually 10% of the purchase price, is paid on the signing of the Contract for a standard completion period within approximately 30 days.
On payment of the balance of the purchase price the seller will issue a public deed of conveyance to the purchaser, free of liens and encumbrances. This deed is issued and passed to the Tax Office to be assessed for Capital Gains Tax and Stamp Duty and then sent to the Property Registry for formal registration.