Deduction of title (Procedural steps for the assignment of a lease)-FS Flashcards

(6 cards)

1
Q

What is ‘deduction of title’ in the context of lease assignment?

A

It is the process of proving ownership of the leasehold title when transferring (assigning) the lease from the seller (assignor) to the buyer (assignee).

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2
Q

When is deduction of title unnecessary in a lease assignment?

A

When the lease is already registered with its own title number at the Land Registry, because registration itself is sufficient proof of ownership.

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3
Q

Who is responsible for deducing title in an assignment of a lease?

A

The assignor’s solicitor (acting for the seller/transferor of the lease).

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4
Q

What does the buyer (assignee) need to check when taking an assigned lease?

A

That the existing lease is suitable for their purposes—for example, that the lease term is long enough.

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5
Q

Definition: Assignor

A

The party transferring their leasehold interest to another in an assignment.

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6
Q

Why is deduction of title required in property transactions?

A

To confirm that the seller has legal authority to transfer the property or leasehold interest—unless already evidenced by registration.

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