What is a key feature of the Form OS1 pre-completion search?

Study for the CILEx Conveyancing Level 3 Exam. Prepare with targeted quizzes and interactive questions; each offers detailed explanations. Excel on your exam!

Multiple Choice

What is a key feature of the Form OS1 pre-completion search?

Explanation:
Form OS1 is a pre-completion search used to verify the property’s identity in the Land Registry and to reveal any matters that could affect the title before completion. It acts as a diagnostic tool, showing details such as the title number, property address, and any entries against the title (such as notices, restrictions, or pending applications) that could impact the purchaser’s ability to obtain a marketable title. It does not insure the property or guarantee that the title is marketable; that assurance comes only after completion and registration, once any issues have been resolved.

Form OS1 is a pre-completion search used to verify the property’s identity in the Land Registry and to reveal any matters that could affect the title before completion. It acts as a diagnostic tool, showing details such as the title number, property address, and any entries against the title (such as notices, restrictions, or pending applications) that could impact the purchaser’s ability to obtain a marketable title. It does not insure the property or guarantee that the title is marketable; that assurance comes only after completion and registration, once any issues have been resolved.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy