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Conveyancing:
Dealing with
the Title Deeds
The seller's solicitor will order the title deeds from the seller's Building
Society or Bank and will usually send these to the purchaser along with his
qualified acceptance of the purchaser's offer so that the purchaser can check
that the titles contain no unusual or onerous conditions before a contract
is concluded.
Searches
The selling solicitor will have to produce to the purchaser before the date
of entry Searches in the Property Register, showing his client's title and
in the "Personal Register" showing that his client has not been made bankrupt
and is not subject to any court orders such as would prevent him granting
a valid title to the purchaser. These Searches are paid for by the seller
and they are carried out by an independent firm of Searchers, who specialise
in providing this service.
Local Authority
Certificates
The seller usually has to produce for the purchaser certificates from the
Local Council showing, for example, that there are no statutory notices affecting
the property which might require the owner of the property to carry out certain
repairs (e.g. to the roof).
These certificates
will usually also disclose whether the roads have been taken over by the Council
for maintenance purposes or are still private roads (which may be the case
in a fairly new estate of houses) and whether the sewers have also been taken
over, as well as some other information, such as whether there are any planning
proposals affecting the property.
Discharging
the Loan
Where the seller has a loan from his Bank or Building Society, it will be
necessary to prepare a Discharge of the Security document and (if a life policy
has been assigned to the Bank or Building Society) a re-assignation of the
policy to release the benefit of the policy from the lender. When the property
is finally sold and the price paid to the seller's solicitor the solicitor
will immediately have to repay to the client's lender the whole amount of
the outstanding loan.
Date of Entry
The date of entry will have been decided in the Missives, although it may
subsequently be amended by agreement. On the date of entry, the seller's solicitor
will have to deliver to the purchaser's solicitor the keys of the property
and a signed Disposition which will transfer the title of the property into
the purchaser's name. In exchange for this, the purchaser's solicitor has
to deliver to the seller's solicitor a cheque in favour of the seller's solicitor
for the full amount of the purchase price (unless any deductions from the
price have been previously agreed.)
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