Terminology involved in selling a property

Selling a property involves the use of quite a bit of terminology not in everyday use. While you have probably heard some of these terms before there may be some that you are unsure of the meaning of.

Some terms used in selling a property or dealing with property generally include:

• Title: a record of who owns a piece of land and information about that land, including any encumbrances.
• Certificate of Title: a duplicate copy of a record of land title.
• Easement: a right of another party to use the land in question for a specified purpose.
• Covenant: an agreement in writing between the seller and buyer of a block of land which restricts the purpose it can be used for.
• Encumbrance: an interest in the property of another party – both mortgages and easements could be considered to be encumbrances.
• Surveyor: the person who marks boundaries between properties.

As well as the terminology used in selling a property there are a number of complexities especially with regard to documentation. Our conveyancing professionals work in your best interests all the way through the process – contact a conveyancer for a quote today!