The University Low REAL ESTATE (KNOWLEDGE) Unit 2 Guide Title Investigation Context Before contracts are exchanged, both seller and buyer are free to walk away from the transaction, as there is no obligation on either party to proceed. However, once contracts are exchanged, both parties are under an obligation to complete the transaction on a specified date. If they do not do so, there may be significant financial consequences. Therefore, before exchange of contracts, a solicitor must gather as much information about the property as possible. This process is called "due diligence". Once this due diligence is completed, the solicitor is able to write a report to the client detailing the legal and practical issues affecting the property. In this way, the client is fully informed about the nature of the property and any issues affecting it before exchange of contracts. Title investigation is the first stage of the due diligence process. Every piece of registered land in England and Wales has its own unique title number and its own register of title at the Land Registry. The register of title shows the address and owner of the property and gives details of any rights benefitting the property or adverse rights affecting it. In this Unit you will learn how to conduct a title investigation, how to identify any further issues which might arise as a result of any entries on the registers of title, how to interpret the results of the title investigation in light of a client's particular circumstances and how to identify the appropriate further action to take to resolve the issue or to protect the client. Outcomes By the end of this Unit you should be able to: 1. Conduct an investigation of title on behalf of a buyer client to establish ownership and whether the property benefits from or is subject to any rights. 2. Identify any issues arising from the title investigation and analyse the issues in light of a buyer client's particular circumstances. 3. Conclude when further action needs to be taken in respect of an issue, either by raising further enquiries or by taking steps to protect a buyer client. a949c6d5db381c6fc05c68ee633c16ef.docx 81 @ The University of Law Limited
The University of Law Unit Workshop Tasks In this Unit you will: 1. Discuss your analysis of a register of title from the Unit Workshop Preparatory Task and, as a team, create a short presentation to give to the class. 2. Conduct a title investigation on behalf of a buyer client. 3. Utilise a suggested problem solving structure in order to identify the pertinent issues arising from your title investigation, the impact on a buyer client and the appropriate courses of action to take. Preparation To prepare for this Unit Workshop you should: 1. View the Real Estate Recorded Lecture "Review of Prior Learning". 2. Read: 3.6 of chapter 3, 4.1, 4.3-4.5 of chapter 4, chapter 12, 14.1-14.4 of chapter 14, 15.1-15.3.4 of chapter 15 and 16.1-16.2.1, 16.2.3 - 16.3.2, 16.4.1 - 16.4.1.2, 16.5,