THE IMPORTANCE OF OBTAINING A TITLE SEARCH PRIOR TO COMPLETING YOUR PROPERTY TRANSFER
Would you ask is it important to complete a Title Search on a property transfer and purchase prior to entering into an Agreement to purchase? I definitely hope you would and the answer is YES!
So why is it so important?
- It identifies the legal registered owner of the property and who has the right to sell.
- It identifies the correct legal description of the property to be noted on the Agreement or Contract.
- It identifies the area/size of the land.
- A search of the Title Plan will identify the boundaries of the property.
- It identifies the encumbrances to be discharged from the Title.
- It identifies the encumbrances and interests which will remain on the Title.
- It identifies what type of title i.e. fee simple, leasehold, cross lease, Maori land or strata title. Each of these titles has different estates.
- It ensures the correct property is being transferred. You need to always identify the Title and Plan to the property.
- It identifies any building restrictions or resumptions.
- It identifies the use of the land.
In essence make sure you order all necessary searches and read them carefully. If you don’t understand the searches check with your Registered Conveyancing Practitioner.
We have search requests available online Title Search. The importance of a little homework and due diligence can go a long way to protect one of the most important investments you will be undertaking in your property transfer and purchase.
Best wishes Kim 
