CHECK LIST OF MATTERS TO BE COVERED BY A SEARCH REPORT

a) Date of Search;

b) Name of Borrower;

c) Name of the person giving security, if different from the borrowers;

d) Description of the property;

e) Title of the borrower or person giving security;

Credit - noroip.com

f) Encumbrances (if any);

g) Conclusion—this should state I unequivocal terms whether or not the borrower or person giving security has good title to the property and whether or not he has an unencumbered power to charge it to the Bank as security for a loan.

h) Name, address and signature of the solicitor that conducted the search.

Where the borrower is a company/incorporated body, the following matters should be inspected at the Corporate Affairs Commission:

a) Date of incorporation/registration of the company;

b) Borrowing powers of the company;

c) Particulars of Company Directors;

d) Whether annual returns are filed up to date;

e) Any registered charge or encumbrances.

To be continued with CREATION OF MORTGAGES

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