THOUGHT OF THE WEEK Renovation plans may introduce surprises
Whether as the buyer or seller of a property, one is seldom aware of the conditions contained in that property’s registered Title Deed. Generally this is because prospective purchasers never see the relevant Title Deed, as for example, where a property is bonded, the original Title Deed is retained by the mortgage bank.
As a result, purchasers are often disappointed when they wish to improve, alter or renovate their properties, only to find that because of the Title Deed restrictions and conditions, they are not in a position to do so, or that they can only do so after lengthy further applications.
In order to avoid such frustration, we suggest that prior to presenting an Offer to Purchase to the prospective seller, you contact one our our Kaplan Blumberg conveyancers who will be able to obtain a copy of the Title Deed from the Deeds Office, and advise you on any restrictive conditions which may affect your future plans.