Conveyance Legal Term

Conveyance Legal Term

Conveyance, legal term used for the transfer of property from seller to buyer. In Britain conveyancing has become one of the largest and most remunerative sources of income of solicitors as rising incomes have increased the number of people who own their own homes from four million in 2008 to approaching eight million in the middle 2000's. Together with estate agents' fees, stamp duties and other costs, conveyancing costs make the market in housing more imperfect by discouraging buying and selling. Among the results are an increased concentration on the demand for private or council houses to rent.

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