- Advanced/Intermediate * 3 hours CPD
This course looks at the process of reporting on title to a purchaser client in connection with a commercial property acquisition - whether for development purposes, subject to leases, or for occupation.
Reports on title have not standardised across the profession in the same way as have many common transactional documents. A report on title produced by one firm can differ significantly from a report produced by another. Indeed, reports can differ from client to client within the same firm, and from fee earner to fee earner. Some reports are delivered on a very informal basis, exposing the lawyer to potential liabilities.
This course will be based on a precedent report and will look at the process of compiling a report on title, including:
- Structuring the report - executive summary at the start, caveats at the end?
- Liability issues - to what financial consequences is the lawyer exposed?
- Tailoring reports for the sophisticated, and the less-sophisticated client. Does the client need the law to be explained? Does the client merely require "exception" reporting?
- Using appropriate caveats and limitations
- When to append, and when to provide a summary
- Striking the balance between user-friendly reports and self-preservation
- Clear drafting
and also a practical look at how the report on title should deal with a range of issues including:
- Matters arising on site inspection (boundary issues; apparent easements)
- Appropriate property advice in connection with environmental matters
- Ease of securing vacant possession where land is part let
- Dealing with covenants where land is to be developed
- Covering against chancel repair liability where land is to be developed
- Ensuring sufficient easements benefit the property
- How to deal with the terms of occupational leases