TITLE SEARCH IN REAL ESTATE

The only way to ensure that the land/ property to be purchased in a transaction has a good title is to conduct a complete and thorough search.


A title search is the process whereby the ownership and claims on a piece of real property are evaluated before a transaction can take place.


It is important to conduct search and necessary due diligence when purchasing a land or property to clear any doubts, ambiguities, and confusion.


The necessary search to be conducted before real estate transaction can take place are as follows:


Conducting a search at the Land Registry where the property is situated; doing this reveals the true owner of the land and also reveals if there is any encumbrance such as government acquisition, mortgages, or any form of leasehold on the property.


Search at the Probate Registry: This discloses whether probate has been given on any estate; who the administrators of the estate are; or to determine the executors of a testator in a situation of properties belonging to the estate of a deceased. Unless a grant of probate or letters of administration has been issued, the vendors do not possess the requisite authority to sell or transfer the property of a deceased individual.


Conducting a confirmation of Survey at the Office of the Surveyor General of the state where the property is situated; doing this helps reveal whether the land is under government acquisition and whether the survey plan of the land is genuine or not.


Conducting a search at the Corporate Affairs

Commission (CAC)- This is necessary when the vendor of the property is a company. This help disclose whether there is an encumbrance or charge registered in CAC in respect of the company's assets.


Once the search is finished, you will receive a preliminary title report. If there are any issues or problems with the title, you can point them out to the seller . Depending on the exact nature of the issue, you can then decide whether you want to go through with the purchase of the property.


The only way to ensure that the land/ property to be purchased in a transaction has a good title is to conduct a complete and thorough search in the above-listed places and many other places as it may apply to a particular transaction.


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