Glossary

A phrase in a contract that requires the performance of a certain act within a stated period of time, terminating irrevocably on a certain date.

Evidence that owner of land is in lawful possession thereof; evidence of ownership.

The legal documents that set out the rights and liabilities that attach to the property and state who are the legal owners. You sign this and it is then sent to the Lands Commission for registration.

Insurance that protects the lender against any claims that arise from arguments about ownership of the property; also available for home buyers.

An examination of the public records to determine the ownership and encumbrances affecting real property.

A check of public records to be sure that the seller is the recognized owner of the real estate and that there are no unsettled liens or other claims against the property.