Final answer:
It is true that the requisitions can cover a variety of issues related to the property's title. They are a key part of the due diligence process to ensure the buyer is fully informed about any potential problems or restrictions associated with the property they are purchasing.
Step-by-step explanation:
It is true that requisitions sent by the buyer's lawyer to the seller's lawyer can be wide-ranging as they can relate to various problems, defects, or other matters concerning the title. When participating in the legal process of buying property, one should heed the old Latin admonition, 'Caveat emptor,' which means 'let the buyer beware.'
In practice, this principle impels the buyer to conduct a thorough investigation into the property they intend to purchase. Therefore, the buyer's lawyer typically raises numerous queries known as requisitions on title, which pose questions examining the quality and the legality of the property's title.
These requisitions may cover issues such as boundary disputes, outstanding liens, covenants, easements, or other encumbrances that might affect the property's value or the buyer's intended use of the property. Hence, these inquiries are crucial in ensuring the buyer has all the information necessary to make an informed decision about the purchase.