241. Company search.

Although a buyer is not bound by a charge created by a company unless that charge is registered at the Land Registry1 or otherwise protected on the register, it is generally considered advisable to make a company search against a corporate seller even in the case of registered land2.

When buying unregistered land from a company, a company search should be made in order to ensure that there are no adverse entries such as fixed or floating charges, or the appointment of a receiver or liquidator which would affect the buyer3.

Where the company search reveals a floating charge, it is