1: Investigation of Title (Pages 1–4) Flashcards
(9 cards)
What is the purpose of investigating title?
Confirm seller owns the property and can sell it
Identify any adverse interests (e.g. covenants, mortgages)
Ensure good and marketable title
What is included in the official copy of the register?
Property Register
Proprietorship Register
Charges Register
Title Plan
What does the Property Register contain?
Description of the property
Rights benefitting the land (e.g. right of way)
What does the Proprietorship Register contain?
Owner’s name and address
Class of title
Restrictions (e.g. Form A restriction)
What does the Charges Register contain?
Mortgages
Restrictive covenants
Easements for third parties
What is the purpose of the title plan?
Shows extent of land ownership
Indicates boundaries and rights of way
What is overreaching?
Transfers beneficial interests to purchase money
Requires capital paid to at least two trustees
What is a Form A restriction?
Notifies that land is held on trust
Ensures overreaching of equitable interests
What are the three main classes of title?
Absolute (best)
Possessory (due to adverse possession)
Qualified (defect in title)