Failure to Furnish Good Title 2,
What can a buyer do if Failure to furnish good title occurs
The title of property is an important consideration while buying a piece of land or property. The title is the original ownership of the land and unless someone is the original owner of the land or property he or she cannot make any deals regarding the property. In case someone does that it is a fraudulent act and is punishable under law.
The main problem of title fraud is that always the buyer remains at loss. The buyer must therefore always make attempts to ascertain the real and the rightful owner of the property before closing the deal. Having said that, it is the responsibility of the seller to prove that he is the rightful owner of the property he is selling to someone. For this he must give an affidavit stating that he has all the rights to sell or rent the property in question. The seller is also required to produce proof of his legitimate ownership. Failure to furnish good title to the property will give the buyer the full right rescind the deal and ask for any deposit that may have been made on the part of the buyer. The seller is obliged to give back all the money to the buyer without creating any hassles.
The good title is the right of the buyer and all the laws state that unless the seller provides a good title to the buyer at the time of closing of deal the buyer has all the rights to rescind the deal
Failure to Furnish Good Title 2, 10.0 out of 10 based on 2 ratings