How to Become a Property Lawyer?

Property law, or conveyancing, is one of the most popular and seminal aspects of law, and one that touched on everyone of us at one time or another during our lives.

Whether you’re renting a property or attempting to get your foot on the property ladder in a country where the average house price is now more than £270,000, you’ll need a trained lawyer to help process transactions and potentially safeguard your rights.

But how do you get into property law? Here are some ideas for you to keep in mind!

What is Property Law?

Property law governs a number of areas and considerations, including the various forms of ownership and tenancy in real estate.

Similarly, it deals with the principles and rules which govern disputes pertaining to property and land, which can unlock complex areas of law and litigation.

Succinctly, property law deals primarily in the transfer and ownership of land, which includes managing disputes that occur between different parties. Mortgages are also managed by legal firms, while conveyancing also includes a multitude of administration tasks when transferring the deeds of a property from one person to another.

How Can You Become a Property Lawyer?

You’ll study property law as part of your bachelor’s degree, which typically takes three years to complete.

During this time, you’ll need to arrange a training contract with a reputable law firm in your preferred field of practice. In this instance, you can target multi-practice law firms that operate in several different disciplines, or focus on specialist conveyancing solicitors that will provide more relevant work experience.

It’s through this employee that you’ll complete the qualifying LLB part of the course, affording you practical experience and enabling you to start practising law for real upon completion.

Learning the Key Jargon

When you start to gain experience, one of the most important things is to learn and understand the jargon used within the sector. Here are some of the key and most important technical terms:

• License: In real estate, a right (or license) is given to the purchaser of a property enabling them to move in with their possessions before settlement for the house has taken place. This must be legally granted by the vendor (or existing homeowner), while rent can be charged during this period of time. Settlement itself refers to completion of a sale where the buyer pays the balance of money owed in relation to the purchase.
• Statement of Adjustments: This is a document that features all adjustments of particular costs including taxes, water, rates and rent. It also describes in detail how these costs are divided up between the purchaser and the vendor, although until settlement, the vendor is required to pay all expenses. These transfer over the new owner.
• Subject to Finance: This refers to a contract clause which states that the purchaser of the property has to obtain finance a predetermined amount of cash within a given timeframe. Failure to do this releases them from the buyer’s contract without incurring a financial penalty, so it’s important to look out for these when handling property contracts.