Report on Title – everything you need to know.
Report on Title – everything you need to know.
Buying a home is an investment in your future.
You need to find out as much as you can about the property you are buying before you decide to go ahead.
Whether you are buying a home or making a property investment, an essential step in the process is to get your lawyer to thoroughly research the legal title to the land.
The Report on Title sets out all the information your lawyer has collected about the legal title to the property and explains what it means for you as a buyer.
When you understand the title information – you are in control of the decision about whether or not to buy and if you do, what to expect in relation to your ownership of the land.
Most reports on title are divided into sections and they give you more than just title information.
Typically, the report covers:
- What you are physically buying
- Whether the seller has the right to sell to you
- Charges on the land – for example mortgages
- Rights for the owner or neighbours that benefit or burden the land
- The seller’s answers to your lawyer’s questions on title – called pre-contract enquiries
- The results of your searches
- Any other relevant information such as reporting on a mortgage offer
This video clearly explains what a Report on Title is and why it is important that you understand the title information in order to make an informed decision regarding the purchase of your property.
Contact our Residential Conveyancing experts
Our residential conveyancing solicitors provide professional legal advice on all aspects of buying and selling property. We are always happy to speak to you about the progress of your sale/purchase on the telephone at any time. For more information or advice from our residential conveyancing solicitors call us today on 01494 790013 or 01494 790071 or email conveyancing@ibblaw.co.uk
