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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

User CodyK
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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.

User Dawna
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