Why it is important to ascertain identity in land transactions
While carrying out the land deals or while dealing in property one must make sure as a buyer that the seller is the rightful owner of the property and there is no other co owner or any other type of
In order to eliminate the risk of fraud associated with registration of the land or property it is important that the identity of the seller who is also claiming to be the owner of the land or property needs to be verified.
The most valuable assets like land and property can be used in many ways to raise funds such by selling or by mortgaging or by leasing and therefore many of the people of criminal mindset would attempt to do fraud by selling you the property pretending to be the owner of the property while actually they have no connection whatsoever with the property in question. The confirmation of identity is one of the reliable procedures that can prevent you from becoming the victim of such fraud when you want to buy a property.
This can be done by sending an application to the land Registry. This is generally done by a conveyance who represents the client and has to provide his detail while doing so.
The issue of identity of the seller must be resolved by all means before the closing of the deal because if the seller is a fraudster the buyer may get into deep trouble by not only losing their money but also by getting involved in litigation.
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