In the world of Real Estate and Conveyancing, there are many terms used like Memorandum Of Transfer, that people find vague or ambiguous.
In this case, the Memorandum Of Transfer seems straightforward on the surface but in fact it does have a specific and limited meaning.
Back in 2014, I wrote my first explainer article about the term, Buying and selling real estate in South Australia: What is a Memorandum Of Transfer?, and it remains one of the more common questions we receive.
Memorandum Of Transfer: Explainer Video
Sometimes, seeing a short video can cut to the chase and bring clarity with technical issues, so we have made this short explainer video about the Memorandum Of Transfer.
In summary, the Memorandum Of Transfer, “transfers” ownership of real estate for the price agreed to by both parties, Vendor and Purchaser.
As the video explains, the smallest of formatting errors can prompt the Lands Titles Office to reject a Memorandum Of Transfer, which is why my counsel is to always choosed a professional and experienced conveyancer to work on your behalf.
If you’d like to talk to us about your conveyancing needs or questions, contact Eckermann Conveyancers at the office most suitable to you.