All property in New Zealand has a particular CERTIFICATE OF TITLE that relates to it. On the title, various interests are often detailed, and these will depend on the property you are purchasing. These interests can include mortgages, encumbrances, covenants, caveats and the like. These interests affect the title, and it is important that you understand them before you purchase.
Please see the example below as to what a CERTIFICATE OF TITLE often looks like.
EXAMPLE OF TITLE OF CERTIFICATE
You will note that the CERTIFICATE OF TITLE specifically shows the legal description of the property and who the Proprietors are. It also lists, under “Interests” some other documents that relate to items affecting the title but not detailed on the three-page title.
Some properties are also subject to specific legislative provisions such as those relating to mining or conservation. These should also be understood before purchasing.
Often purchasers are provided a copy of the CERTIFICATE OF TITLE by the Real Estate Agent acting for the vendor. Please be aware that normally the CERTIFICATE OF TITLE provided is only the basic summary of the title and does not provide the in-depth analysis of the encumbrances and covenants that may be registered.
Please see the example below as to the specific interests which were registered on the example title above. These interests, as can be seen in the title were:
As you can see from these examples above there is a great deal of important information that needs to be checked by us which is not readily available from the basic title document itself.
Title Search Service
It is important to make sure that the title is satisfactory to you early in the contracting stage. To assist with this, we offer a TITLE SEARCH SERVICE, which includes providing you with a copy of all the title-specific documents and a basic review of those. This service is available to you within two hours of you contacting us between the hours of 8.30 am and 2.30 pm Monday to Friday. Our charges for these services would be as per our TERMS & CONDITIONS.
You should also note that the CERTIFICATE OF TITLE does not specifically show any information regarding the Council requirements or issues that may attach to the property. This information can only be obtained from the local Council by way of purchasing a LIM REPORT or by visiting the Council’s offices and searching the “property bag” that relates to the property in question. Normally you need to arrange an appointment with the Council to be able to review the “property bag”.