A settlement representative arranges the transfer of legal ownership of a property from the seller to the buyer.

This includes:

• arranging the transfer of the title;
• liaising with banks to discharge or register a mortgage on the title;
• notifying the local authorities of the change of ownership;
• verify the identity of the parties; and
• adjust the rates and taxes.

A settlement agent can be a conveyancer or lawyer. Both are qualified to complete settlements.