This document is a standard form report on title. It is important that all fee earners within a firm are working from the same basic template for a report on title. The report on title will be instrumental in governing the firm's liability to clients in the event that the client suffers loss in connection with the transaction. A report on title should (as this one does) serve the dual purpose of providing information to the client in a user-friendly way, whilst also setting parameters to the retainer to limit the liability of the firm. Limiting liability by using appropriate caveats in reports to clients is an essential part of risk management.
This document provides the standard template which, of course, may be adapted to suit the needs of each client of the firm.
Attached below are (i) the v3 Sept 09 version which includes provisions dealing with Carbon Reduction Commitment and (ii) the v4 Dec 12 version with updated references to Energy Performance and Asbestos Regulations.