Form LRA 61 - Transfer Pursuant to Purchase by Chargee in a Public Auction

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Document Overview

Form LRA 61 is an official land transfer instrument which is used when a chargee (lender, such as a bank or financial institution) sells land or property through a public auction to recover money owed under a charge (mortgage/loan).

In this case:

- The chargee (lender) exercises its legal power of sale.
- The transfer formally records the movement of ownership of the charged property to the transferee (usually the chargee itself or a third-party buyer at auction).

The purpose of this form is to:
- Legally document the transfer of property following a public auction conducted by a chargee.
- Provide proof of compliance with the Land Registration Act, ensuring the sale was done lawfully.
- Protect the transferee’s ownership rights by registering the property in their name, free of the original charge(s).
- Ensure transparency and accountability in auction sales-
- Allow registration at the Land Registry, after which the transferee is recognized as the legal proprietor of the land.

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Form LRA 61 - Transfer Pursuant to Purchase by Chargee in a Public Auction

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