Common use of Title and identity Clause in Contracts

Title and identity. 4.1. Unless condition 4.2 applies, the buyer accepts the title of the seller to the lot as at the contract date and may raise no requisition or objection except in relation to any matter that occurs after the contract date. 4.2. If any of the documents is not made available before the auction the following provisions apply: 4.2.1. The buyer may raise no requisition on or objection to any of the 4.2.2. If the lot is registered land the seller is to give to the buyer within five business days of the contract date an official copy of the entries on the register and title plan, and where noted on the register, of all documents subject to which the lot is being sold. 4.2.3. If the lot is not registered land the seller is to give to the buyer within five business days an abstract or epitome of title starting from the root of title mentioned in the special conditions (or, if none is mentioned, a good root of title more than fifteen years old) and must produce to the buyer the original or an examined copy of every relevant document. 4.2.4. If title is in the course of registration, title is to consist of certified copies of: 4.2.4.1. the application for registration of title made to the land registry; 4.2.4.2. the documents accompanying that application; 4.2.4.3. evidence that all applicable stamp duty land tax relating to that application has been paid; and 4.2.4.4. a letter under which the seller or its conveyancer agrees to use all reasonable endeavours to answer any requisitions raised by the land registry and to instruct the land registry to send the completed registration documents to the buyer. 4.2.5. The buyer has no right to object to or make requisitions on any title information more than seven business days after that information has been given to the buyer. 4.3. Unless otherwise stated in the special conditions the seller sells with limited guarantee except that (and the transfer shall so provide): 4.3.1. the covenant set out in section 3 of the Law of Property (Miscellaneous Provisions) Act 1994 shall not extend to matters recorded in registers open to public inspection; these are to be treated as within the actual knowledge of the buyer; and 4.3.2. the covenant set out in section 4 of the Law of Property (Miscellaneous Provisions) Act 1994 shall not extend to any condition or tenant’s obligation relating to the state or condition of the lot where the lot is leasehold property. 4.4. The transfer is to have effect as if expressly subject to all matters subject to which the lot is sold under the contract. 4.5. The seller does not have to produce, nor may the buyer object to or make a requisition in relation to, any prior or superior title even if it is referred to in the documents. 4.6. The seller (and, if relevant, the buyer) must produce to each other such confirmation of, or evidence of, their identity and that of their mortgagees and attorneys (if any) as is necessary for the other to be able to comply with applicable Land Registry Rules when making application for registration of the transaction to which the conditions apply.