Absolute Title: This is the best of the four types
of title that Land Registry can give to land
Abstract of Title: A summary of
the title deeds and documents which prove title to unregistered
land.
Additional Rent: A sum payable
under a Lease (e.g service charges) which are to be treated as rent,
giving the Landlord the same remedies as if it were rent.
Adverse possession: The occupation
of land without the permission of the owner. In certain circumstances
the occupier may gain title to the land.
Agreement for sale: Another name
for the contract which sets out the agreement of the sale.
Alienation clause: Provision in
a Lease which restricts the tenant’s rights to assign or sub
let.
Apportionment: Adjusting the purchase
price of land to take account of all outgoings that affect it.
Assign: to transfer a right in
property over to another.
Attestation clause: The part of
a document containing the signatures of the parties.
Beneficial owner: The person who
is entitled to enjoy the benefit of the property.
Benefit: The right to enforce
compliance with a covenant.
Bridleway: Piece of land where
the public have a right of way, but not by vehicle.
Building Lease: Long Lease under
which the tenant is obliged to carry out some building work on the
demised property.
Building regulation approval or consent:
Confirmation that the plans for proposed building work show that
it will comply with the Building Regulations.
Burden: The obligation to comply
with a covenant.
Caveat emptor: Let the buyer beware,
emphasising that it is the sellers responsibility to discover problems
with the property.
Charge: An interest in land securing
the payment of a debt.
Chattels: Items of property other
than land, e.g furniture.
Common land: Land over which the
inhabitants of a locality can exercise rights.
Common parts: The parts of a development
used in common by all the occupiers.
Conveyance: Document used to transfer
property from one party to another.
Corporeal hereditament: Physical
property
Counterpart Lease: A lease is
generally drawn up in two parts, the Lease signed by the Landlord
and the counterpart signed by the tenant.
Covenant: An obligation entered
in to by a land owner.
Deed: A document executed in accordance
with various formal requirements.
Defective title insurance: Insurance
taken out to protect a buyer and/or lender against the consequences
of a specified defect in title.
Disbursements: Payments made by
a solicitor on behalf of the client.
Dominant tenement: The piece of
land that benefits from an easement.
Easement: The right over a piece
of land for the benefit of another e.g a right of way.
Enfranchisement: In Leases the
process of tenants acquiring the Freehold to their land.
Epitome of title: A chronological
list of all documents which prove title to unregistered land.
Fixtures: Items affixed to the
land which become part of it.
Forfeiture: A landlord’s
right to terminate a Lease early due to a tenants failure to comply
with their obligations.
Good leasehold title: Guarantees
the ownership of the lease, but not that the landlord had the right
to grant that lease.
Head lease: A lease granted directly
by a freeholder.
HMRC: Her Majestys Revenue and
Customs. The government department responsible for the administration
and collection of taxes.
Incorporeal Hereditament: An intangible
right over land.
Incumbrance: An adverse right
affecting a property.
Lease: Used interchangeably to
mean a Leasehold interest in land and also the document creating
that interest.
Managing Agent: Someone appointed
to oversee the day to day running of a property.
Official Copies: Copies of the
registry entries relating to a property.
Party wall: A wall or fence owned
jointly by adjoining land owners over which both have rights and
responsibilities.
Possessory title: Title granted
when owner lost title deeds, or has acquired the property through
adverse possession.
Public Highway: A road over which
the public have rights to pass on foot and with vehicles.
Rentcharge: A sum of money payable
by the owner of freehold land.
Reversion: The interest which
the Lessor pays after the grant of a Lease.
Stamp Duty Land Tax: Tax payable
to the government on the purchase of a property or the Transfer
of a Lease.
Telegraphic Transfer: Term still
used to signify the transfer of money from one bank account to another.
Tenant: The person to whom a Lease
is granted.
Title: The ownership of a piece
of property.
Transfer: The document used to
pass the ownership of land to another.
Tree Preservation Order: An order
made by the local planning authority preventing the felling or lopping
of trees without permission.
Vacant possession: No tenant or
other person in occupation.
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