Property Logbook
Not sure where to post this one but:
When a property is first built why can’t there be a sort of logbook created that shows it’s boundaries and legal status etc? If there is any further building work done on the house it could be noted, with the engineers reports etc, on the logbook. If the boundaries were changed the person who changed them could, through a solicitor, have the changes noted. Basically it would be a record of the legal status of the house. That way when a house was sold the transaction could be conducted much like the sale of a car. This would hugely reduce legal costs, as the same searches would not have to be done over and over again, registering with the land registry would (or should) be cheaper and professional fees form solicitors would (or should) be lower as much more of the information would be in the one place.
Would this not be good for homebuyers?
Not sure where to post this one but:
When a property is first built why can’t there be a sort of logbook created that shows it’s boundaries and legal status etc? If there is any further building work done on the house it could be noted, with the engineers reports etc, on the logbook. If the boundaries were changed the person who changed them could, through a solicitor, have the changes noted. Basically it would be a record of the legal status of the house. That way when a house was sold the transaction could be conducted much like the sale of a car. This would hugely reduce legal costs, as the same searches would not have to be done over and over again, registering with the land registry would (or should) be cheaper and professional fees form solicitors would (or should) be lower as much more of the information would be in the one place.
Would this not be good for homebuyers?