CHECKING THE TITLE DEED CONDITIONS
It is important, for both parties when conducting a property transaction, to check the title deed conditions before the sale agreement is signed.
The purchaser will want to ensure that there are no conditions contained in the title deed which are at odds with his intentions for the property. There may, for example, be conditions restricting building or extensions on the property and /or restrictions as to how the property may be used. This is important in an age where people often look to run businesses from home.
It is equally important for the seller to be aware of any such conditions, this to avoid providing any guarantees or even advice , to the purchaser in respect of the property and which runs counter to any of the title deed conditions.
Where the property is bonded, the bank holding the mortgage bond will have the original title deed. A copy can be obtained from the deeds office.
It is important to have a conveyancing attorney read through the deed to ensure that all conditions are identified and understood., particularly as the title deed may make reference to conditions which apply to the property, but which are contained in a previous title deed to the property. In such case that previous deed , also on file at the deeds office, will have to be located and scrutinised.
Checking the title deed conditions, before entering into an agreement in respect of immovable property, is recommended to avoid any subsequent disputes between the parties, which may lead to delays in the transfer process or possibly even the cancellation of the sale.
Sean de Bruin
COMMERCIAL & PROPERTY LAW
Tel: 021 839 4441
Fax: 086 648 4053
Mobile: 082 741 1881
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