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8 Important Things You Can Learn From Search Report In Property Acquisition - Properties - Nairaland

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8 Important Things You Can Learn From Search Report In Property Acquisition by ipeg34yahooco: 2:03pm On May 24, 2017
Ideally, every transaction that has taken place in respect of a particular property should be registered at the lands registry. A search report at the Land Registry should reveal all or some of the under listed state of encumbrances on a property to a prospective buyer:

1. That a property has been mortgaged
2. That there is a charge on a property
3. That there is a caution placed on the property
4. That there is a lien on the property
5. That the property has been leased for a number of years
6. That the property has been sold
7. That the property has been gifted
8. That the property is free from all of the above

The revelation of any or all of the above facts from the Land Registry is important and helps in informing the decision of the prospective buyer either to buy or not to buy a property.

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