What are requisitions on title?
Click to see full answer
Hereof, what does requisition title mean?
Under an agreement for sale and purchase of land, a requisition of title is a request made by the purchaser to the vendor to 'make good' any defects to the title of a property before settlement.
Also, what are requisitions in conveyancing? The purpose of Requisitions on Title is for the Buyer's Conveyancing Solicitor or conveyancer to raise any queries relating to the title supplied by the Seller, which they have found to be unsatisfactory. On a practical level, requisitions on title are also used to deal with the administrative completion arrangements.
One may also ask, what is a requisition in property?
Requisitioned property is property that is involuntarily seized by a governmental authority for any reason. Requisitioned property can be taken for a number of reasons relating to the furtherance of the public good.
How do you deduce a title?
the process by which a person selling a property proves to the buyer that they own it: While buyers can obtain such information direct, it is usual for the seller to provide it under a process known as deducing title.