The next step is for Bransgroves Lawyers to perform legal due diligence. This involves a large number of searches and scrutiny of searches, scrutiny of the executed documents and scrutiny of the identification documents.
Some of the legal due diligence performed is determined by the outcome of searches, for example if a search reveals that a property is held on trust then requisitions are made and searches performed in relation to that trust.
Legal due diligence focuses on:
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Ensuring good title to the security is obtained;
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Ensuring the security is the correct property;
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Ensuring there is no identity theft fraud;
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Ensuring there is no fraud on the outgoing mortgagee;
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Ensuring there is no fraudulent misappropriation of the advance funds;
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Ensuring there is no corporate hijack fraud;
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Ensuring there is no priority fraud;
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Ensuring there are no mistakes.
