Glossary
Glossary of terms and acronyms related to Australian banking, finance and investments.
Search
Search is a process by which a home is inspected to ensure that it is legally sellable and carries no encumbrances. It is usually performed by a solicitor or conveyancer during the conveyancing period, or the official transfer of land title from seller to buyer. Among the factors to be looked at are legal ownership (the seller must legally own the property), easements and rights of way, liens, back taxes, and mortgages. Banks or lenders may also require a search as insurance when a homeowner wishes to mortgage his property.
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