INVESTIGATING TITLE Flashcards
Which root of title should you normally go for?
A conveyance that is 15 years old.
WHAT MUST A GOOD ROOT OF TITLE BE?
- Deal with or show who owns the entire interest (legal and equitable) that is being sold by the current owner.
- contain a recognisable description of the relevant land.
- Do nothing to cast doubt on the seller’s title.
- Be at least 15 years old.
Why is a conveyance generally better to use than a mortgage?
it is more likely to contain a detailed description of the property by reference to a plan and more details of the incumbrance affecting the property and deal expressly with the legal and equitable interest in the property.
What can be used if neither a conveyance nor mortgage is available?
A deed of gift or an asset - these were gifts not for value - title investigation is unlikely to have taken place - less satisfactory to a buyer.
Checking each title deed listed in the epitome of title - when is an example of where the chain of ownership has been broken?
If the owner has died, the property will vest in their personal representatives - in which case the grant of probate identifying the PRs must also be produced to check it was them who transferred title int the next document in the chain.
Who will always execute a conveyance to pass the legal estate in the land?
The seller - the buyer will not always execute a conveyance - only do so if they are giving a new coveannts or they will be holding the land on trust - when they are required to make a declaration about the natur eof ht eland of that trust.
What form would an investigation against all the names of estate owners revealed in the epitome of title be done on?
Form K15 - it should be against each estate owner for the period that they owned the land.
What is a unilateral notice?
The registered proprietor has refused to consent to the entry or has not been asked about it.
The entry of a notice does not guarantee that the interest is valid or even that it exists.
The notice itself does not give the person who registers it any rights over the property as such - it merely serves to ensure that the priority of the interest referred to in the notice is protected against any subsequent interests.
1) ask the seller’s solicitor to ascertain to what the unilateral notice relates - the buyer should require the seller to get the notice cancelled by the land registry before exchange of contracts.
