Report on Title

Question 1

What is a report on title?

Answer 1

Property Practice
Report on Title
A solicitor reports to client on investigation of title

Question 2

What is the effect of the principle of caveat emptor?

Answer 2

Once contracts exchanged, buyer has no means of objecting to an issue that arises

Question 3

What does report on title identify?

Answer 3

Material facts in respect of property
Issues and implications
Solutions available

Question 4

What is the typical contents page of a report on title?

Answer 4

Interpretation
Scope of the review and limitation of liability
Executive summary
Purchase price and other contract terms
The Property
Matters benefiting the Property
Matters burdening the Property
Search results
Replies to enquiries
Planning and building regulations
Insurance
SDLT
Conclusion

Question 5

What should the limitation on liability include?

Answer 5

Not the solicitor’s fault if report does not identify an issue that should have been revealed in a search but wasn’t

Question 6

What is the solicitor required to do on report on title?

Answer 6

Ensure client made aware of all information material to matter which they have knowledge
Give clients information in a way that they can understand