Land registry extract
The land register extract is proof of ownership or any other right that is entered in the land register.
If you are selling or buying real estate for the first time, everything can seem so complicated and confusing. Every day, you are bombarded by the media with information related to the real estate market, which can create more confusion for you. Throughout that process, the most important thing is to understand what each term means, especially when it comes to documentation.
One of those terms that you have to know is the land registry extract.
The first step when you are buying real estate should be checking the land of registry extract that is determining the land registry status of the real estate. If we make comparasion, for the real estate the land registry extract is the same as the ID card for the person.
The land register extract is proof of ownership or any other right that is entered in the land register.Based on this document you can find the details about some specific property such as: who is the owner of the property, wheteher the prperty has multiple owners, whether the real estates is encumbered with a mortgage or some other encumbrance as well as details about the area and location of the property etc
Sellers are obligated to transparently enable buyers to see the land registry extract. On this way, the buyer is informed about the current status of the property and is also familiar with all the characteristics and terms of sale.
The land registry extract consists of three parts:
- List A - census sheet in which the real estate is entered, its main features: cadastral number, address, area, number of floors, construction, etc.
- List B - ownership certificate in which the owner of the property or the change of owner is entered. Restrictions to which the owner is exposed may also be written in that sheet.
- List C - bill of lading showing whether the real estate is encumbered with the rights of a third party: mortgage, right of purchase, lease, etc.
The land registry excerpt is also needed as evidence in some other procedures, such as reporting residence, place of residence, etc.