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Full title guarantee: Difference between revisions
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{{g}}An expression [[Mediocre lawyer|financial lawyers]] toss casually about, without much of a backward glance, but which has a specific meaning under the [[Law of Property (Miscellaneous Provisions) Act 1994]]. | {{g}}An expression [[Mediocre lawyer|financial lawyers]] toss casually about, without much of a backward glance, but which has a specific meaning under the [[Law of Property (Miscellaneous Provisions) Act 1994]]. | ||
Under said statute (section (1)) there are two forms of covenant a chap can give when transferring property: by “[[limited title guarantee|''limited'' title guarantee]]”, and by “[[full title guarantee]]”: | Under said statute (section (1)) there are two forms of covenant a chap can give when transferring property: by “[[limited title guarantee|''limited'' title guarantee]]”, and by “[[''full'' title guarantee|full title guarantee]]”: | ||
:(1): In an instrument effecting or purporting to effect a disposition of property<ref>defined as including a “[[thing in action]], and any interest in real or personal property”</ref> there shall be implied on the part of the person making the disposition, whether or not the disposition is for valuable [[consideration]], such of the covenants specified in sections 2 to 5 as are applicable to the disposition. <br> | :(1): In an instrument effecting or purporting to effect a disposition of property<ref>defined as including a “[[thing in action]], and any interest in real or personal property”</ref> there shall be implied on the part of the person making the disposition, whether or not the disposition is for valuable [[consideration]], such of the covenants specified in sections 2 to 5 as are applicable to the disposition. <br> | ||