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What is a customary audit procedure for the verification of the legal ownership of real property?

1) Title search
2) Appraisal
3) Survey
4) Inspection

asked
User CodyK
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1 Answer

4 votes

Final answer:

The customary audit procedure for verifying the legal ownership of real property includes a title search, appraisal, survey, and inspection.

Step-by-step explanation:

The customary audit procedure for the verification of the legal ownership of real property includes several steps. One of these steps is a title search, which involves conducting a thorough investigation of public records to determine the ownership history of the property. Another procedure is an appraisal, where a professional determines the market value of the property. Additionally, a survey may be conducted to verify the exact boundaries and measurements of the property. Finally, an inspection is often done to assess the overall condition of the property.

answered
User Dawna
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