The legal effect of the L.R. information

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1. What is the probative value of the LR information sheet? Does the national law provide it with special legal nature, like a public document or authentic act? Are there different types of LR information with different degree of value?  

There is no probate value for information in the LR.

2. What is the degree of reliability of the information? Which are the effects given by the legal provisions in each country to this information, should it be necessary to carry out further investigations? 

The information has a high degree of reliability. The natural or legal person who has title to a property is presumed to be owner of the property. However, ownership is transferred on the day of contract and a new owner has three months to apply for a registration of his title so it is advisable to do further investigations. Legal protection is given to acquirer and mortgage lender who in good faith has acquired or has giving a loan with mortgage as a security if the transferor or mortgage borrower had the title to the property on the time of entering of the contract. It is therefore very important to have current information from the LR of the property of interest.

3. Are there any hidden liens? 

All liens are entered in the LR.

4. Is the description of liens exhaustive?

All liens are entered in the LR.

5. What effect does the issuing of the excerpt from the Land Book has over the land registry system? 

In Sweden the Land Book has been changed into the LR and it is the register that has legal force.

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