Define: Priority Search

Priority Search
Priority Search
Quick Summary of Priority Search

A priority search, in a legal context, refers to the process of examining existing legal rights or interests related to a particular asset or transaction to determine their priority or ranking. This search is typically conducted to identify any prior claims, liens, or encumbrances that may affect the validity or enforceability of a subsequent transaction or legal action. For example, in real estate transactions, a priority search may involve examining property records to identify any existing mortgages, liens, or easements that take precedence over a proposed sale or mortgage. Similarly, in the context of intellectual property rights, a priority search may involve reviewing trademark or patent databases to determine whether similar rights have been registered or claimed by others. Priority searches are essential for assessing the risks associated with a transaction or legal action and ensuring that all relevant parties’ rights and interests are properly accounted for and respected.

Full Definition Of Priority Search

In registered conveyancing, the prospective purchaser of an Estate In Land applies to the land registry for a priority search shortly before handing over the purchase money to the vendor. When a priority search is registered, not only does it indicate the state of the vendor’s Registered Title, it prevents the proprietor dealing with the land during a certain period of time (currently 30 days).

Without a priority search procedure, the purchaser would be at risk if an unscrupulous vendor, for example, borrowed money under a mortgage between the purchaser’s search of the register, and the execution of the transfer.

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Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March, 2024.

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