Due to legislative changes which took effect in 2008, people now have a choice as to whether they wish to engage a lawyer or a conveyancer to carry out the legal aspect of their buy, sell or refinance of mortgage transaction. Lawyers and Conveyancers are governed by the same act (The Lawyers and Conveyancers Act) and both professions are subject to similar regulatory compliance.
Conveyancing Practitioners hold Professional Indemnity Insurance at least to the value of the transaction concerned, and the practitioners of Key Conveyancing voluntarily carry Fidelity Insurance cover which provides clients with protection against loss from theft.
The New Zealand Society of Conveyancers regulates who may become a registered conveyancer, which is based on the practitioners relevant conveyancing experience and/or tertiary qualifications. Accordingly only suitably experienced and qualified conveyancers can operate in New Zealand. All conveyancing practitioners are monitored and regulated by the NZ Society of Conveyancers.