Report on title
A standard document that provides a framework for a solicitor's report on title to a client purchasing either freehold or leasehold property in England or Wales. This report on title helps legal advisors structure their findings from the property due diligence process, covering key aspects of the transaction. The standard document emphasises the importance of conducting thorough due diligence and provides sections for reporting on the results of the title investigation and property searches, including local authority, drainage, environmental, flood risk and climate risk searches, and significant issues such as incumbrances, planning permissions and building regulations. The framework also covers important commercial considerations like the purchase price, deposit arrangements, and tax implications, including Value Added Tax (VAT), Stamp Duty Land Tax (SDLT), and Land Transaction Tax (LTT). The report advises on the implications of leasehold versus freehold ownership, highlighting potential costs and legal responsibilities. Legal advisors are encouraged to tailor the report to the specific transaction, ensuring it meets the buyer's needs and addresses any outstanding matters. The report serves as a valuable tool for assessing the quality of title and identifying potential risks .
Already a Practical Law customer? Sign in
Get access to this document with Practical Law
The value of Practical Law
Deliver results and stay ahead with the help of Practical Law's built-in network of legal experts
As a legal professional, your time is a precious resource. Whether you need insights on a market-leading precedent, help navigating a new topic, how-to guidance on the law with an integrated drafting note, or a checklist to help mitigate risk, you can rely on Practical Law.
Practical Law is the only legal know-how solution supported by a team of over 650 full-time global editors who obsessively monitor the law and create resources to help you navigate the unknown and practise more efficiently.
Learn more about Practical Law
Make the most of your time and resources
Jumpstart your work
Easy-to-use tools deliver a great starting point, so you spend less time searching for templates, building presentations, or delving into unfamiliar areas.
Get how-to guidance
Practical resources provide you with in-depth expert knowledge and insights to help you work more efficiently and make informed decisions confidently.
Rely on worldwide expertise
We offer global and comparative content with thousands of assets covering critical legal topics in more than 100 countries, including weekly updates and daily alerts for EU Law.