Contract for Sale: The legal
document which sets out the terms of the sale and purchase of the property. There are two Contracts for Sale issued: one for the Seller to sign and one for the Buyer to sign. A legally binding agreement takes place when there is an Exchange of the signed Contracts. A Contract is not valid without an agreed Completion Date.
Caveat Emptor: It means “Let
the Buyer Beware”. A Buyer must make all enquires and surveys before committing to buy a property. The only bit of Latin (we promise) zzzz
Official Copies of Register &
Plan: Official copies of the registered title to a property from the Land Registry showing who owns a property what rights and what restrictions apply and what mortgages if any are outstanding on the property.
Registered Land: Property (freehold and
leasehold) where proof of ownership and matters affecting the property have been authenticated (registered) by the Government Department known as the Land Registry.
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