Requisitions on title are essentially questions relating to the sale. They can include questions not addressed in the Contract i.e. if there are any disputes with neighbours about fencing.
A request for requisitions, should be made within 21 days from the date of the Contract. Purchasers can make general and specific enquires about the property and about title of the property.
They are generally made up of:
- Requisitions on title, relating to dealings that may not be registered on the title deed.
- Requisitions as to property, which may include enquiries about building works.
- Requisition as to reminders, i.e. discharge of mortgage to be discharged.
- Requisitions as to general enquiries; documents to be handed over at settlement.
Vendors must answer requisitions on title honestly and to the best of their knowledge. There can be repercussions to the vendor if they fail to disclose information or provide misleading information.
If you require any further information on requisitions on title, please do not hesitate to contact our friendly property department team on 02 4721 6200.
Written by Megan Johnson.