Dictionary

Encumbrance

A right held by on person over the property of another that limits the ways in which the owner may use or deal with the property

Settlement

The completion of the transaction

Caveat

A notice registered on the title deed indicating that someone has an interest in the property

Easement

A right enjoyed by someone with regard to the land of another person

Drainage Easement

The right to drain water over another property Easement for support The right to have part of a building over another property

Proprietor

The owner of the land

Restriction on user

A restriction on the use of the land usually imposed by the original developer and or council

Lot

Each block of land, unit, townhouse, villa is given a lot number

Fixtures

An item fixed to the land or building. Cannot be removed without causing damage to the land or building, anything nailed screwed or glued to the building is a fixture.

Chattel

Personal property, a moveable article such as furniture

Inclusions

Those things included in the sale price that are not necessarily fixtures but in some cases may be fixtures

Deposited Plan

A plan of subdivision deposited at Land & Property Information. Commonly called a DP.

Disbursements

The cost of all things apart from the conveyancers actual fee billed to the client eg pest report, title search, survey etc.

Encroachment

The action of one person intruding upon land over which they have no right.

Mortgagee

Lender

Mortgagor

Borrower