in this video I want to take a look at the investigation of title and
purchasing property if you were buying a property being a residential commercial
then your solicitor is going to have to investigate title and in this video I'm
not take a look at what that means and what it means for you as well what your
responsibilities are as a purchaser or would-be purchaser of residential or
commercial property firstly what is title well it's evidence of ownership of
a particular interest or estate in property by an individual of a company
so it's evidence of ownership that's what title is good title is where the
vendor of property can prove that they are the legal owner of a certain estate
or interest in a property and good marketable title is not defined by
statute however it mean is the standard of title which is given and accepted by
conveyancing solicitors following good conveyancing practice and rules set out
by the Law Society of Ireland good marketing title is important or
marketable try to rather is important because a solicitor acting for you as a
purchaser will give an undertaking to the lender if there's a lender involved
to obtain good marketable title and that is why a solicitor will be very anxious
and very concerned that good title is obtained because the solicitors
undertaking is being given to the bank to get good marketable title and good
marketable title would not be title that would have beat there will not be
properly for example that's difficult to sell because there may be a planning
difficulty if there's a planning difficulty and if the solicitor thinks
that marketable title or good marketable title could be problematic in other
words there could be an issue with for example the planning to do with property
well then he or she is gonna get onto the bank and say look there's a problem
here I'm gonna have to qualify my undertaking to you to give you a good
marksman title but are you happy to proceed on this basis so the purchasers
solicitor at your solicitor must check the nature of the title
that's offered for sale he or she must check that he can acquire good
marketable title on behalf of you as a buyer and must be able to ascertain that
the property that's being sold is sufficiently identified in the title
deeds and that the title being offered is that contracted for in the contract
of sale in other words that essentially means that do you are getting what you
think you're getting and the solicitor must make sure that there is complete
correspondence or symbiosis between what's actually on the ground the
property on the ground and the legal documents supporting title for that
target that property the notion of a bona fides purchaser for value without
notice is an important one in a conveyance in practice you may not have
to be too concerned about it as a purchaser but it's no harm to understand
that the consequences that flow from this a bona fides purchaser for value
without dollars acquires good title and is unaffected by matters of which he had
no notice but that is only provided that he inspects the property and makes
reasonable inquiries because pitting defects for example he buys subject to
any defects which would have been obvious from an inspection for example a
right-of-way in relation to latent defects they are not apparent from
inspection but the purchaser is unconstructive known as of them and this
is why a solicitor needs to make reasonably queries so you as a purchaser
on your solicitor will be protected as a bona fides purchaser provided you make
or your solicitor makes reasonable inquiries and carries out the normal
inquiries and inspections will you carry out the inspection really of the
property you cannot just wade into something sign a document and then sue
all around your afterwards if you haven't that made some basic inspections
and your solicitor hasn't done the darky work of making the relevant inquiries
constructive notice is restrictive in this year by section 86 of the land and
conveyancing law reform after 2009 because the in obliges the purchaser and
his solicitor to make reasonable inquiries and inspections so buying a
residential property or commercial property it's not like buying a
two-litre away to a slight span there is serious amount of work preparing work
work by way of inspection and inquiries and objections and requisitions forced
to ensure that you're getting good market or title and you're getting what
you think you're getting invents on title which might require investigation
will include that's lost registry of these documents voluntary conveyances
about reconveyance can be set aside if the donor is made bankrupt within two
years of the deed of voluntary conveyance so that's something that
would prick up the ears as aware of the solicitor to inquire about the voluntary
conveyance something else that would require inspection or investigation will
be the capacity of the vendors so you might need further proofs the solicitor
might need further proofs if for example the vendor is a trustee because the deed
of trust will need to be produced showing a power of sale
perhaps it's a company that's the vendor or then the company will still be
registered with the company's registration office if it wasn't if was
dissolved or struck off well then that's a serious matter and company simply
doesn't have the capacity to sell property because legally the company
doesn't exist if it's dissolved or if it's liquidator
a receiver receiver must be validly appointed I don't buy a deed or court
order and to most have an act of default in relation to the mortgage or charge
liquidator again the liquidator his ability or hoar ability to sell the
property his legal capacity must be looked at by this visitor I think for
the court as well a life tenant and he is a power of sale but not to receive
the proceeds of sale which goes to its trustees but again that's something that
should be looked into by the solicitor and attorney then you may have an
attorney and the solicitor acting for the
so we'll need to see the power of attorney just to check that the attorney
actually has the power and to sell the property a surviving joint tenant then
you would be looking for proof the other joint tenant has passed away so we'd be
looking for a copy of the death certificate a beneficiary under a will a
personal representative of state a probate situation or a mortgagee in
possession for example the bank may take possession of a property or a lender
some basic checks need to be carried out of the to ensure a tomorrow which II
properly obtained possession in other words it was a court order or else there
was a voluntary surrender of the property by the mortgage or to dermology
that is the bank the county register I can also transfer property and an
unincorporated body can transfer property as well but again these vendors
are vendors that are not you know in the normal local events and you will come
across them quite frequently but they will require a little bit of further
investigation by your solicitor I hope you find this video useful my contact
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