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