A settlement agent arranges the transfer of legal ownership of a property from the seller to the buyer. That covers:
- arranging the transfer of the title;
- liaising with the banks to discharge or register a mortgage on the title;
- notifying the local authorities of the change of ownership;
- verifying the identity of the parties; and
- adjusting the rates and taxes.
A settlement agent can be a conveyancer or a lawyer. Both are qualified to complete settlements. The difference shows up if something on your file turns into a legal question rather than a paperwork one. See Settlement agent, conveyancer or lawyer: what the difference means in WA and What is a settlement?.
