A commercial property transaction in Western Australia involves multiple caveats and complex title issues discovered just before settlement. The buyer's solicitor identifies an unregistered easement that affects the property's intended use. What is the most appropriate course of action?
Correct Answer
C) Raise a requisition requiring the vendor to deal with the easement before settlement
A requisition on title is the appropriate legal mechanism to require the vendor to address title defects or irregularities before settlement. This protects the buyer's interests while giving the vendor an opportunity to remedy the issue and complete the sale.
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A commercial property sale contract in Western Australia includes a clause stating 'time is of the essence' for settlement. The purchaser fails to settle on the specified date due to a minor administrative delay. What is the most likely legal consequence?
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