Real Estate Glossary Terms
Applies to some Old System Titles converted to Torrens Title which may not have been fully investigated.
Land, with or without improvements.
The process in which the buyer of a property asks for written information about the title to a property from the vendor in addition to that supplied in the Contract of Sale.
A seller’s minimum sale price for property sale. It may be recorded on the authority to sell.
Right of access across a property.
This clause would be contained in a building contract. It provides for an upward or downward contract price dependant on movement of prices, wages or other factors specified.
Sale of property through private negotiation and contract.
Property offered as backing for a loan. In the case of home loan money usually acts as the security.
Two buildings joined by a common wall.
The occasion when ownership of a property passes from the vendor to the buyer and the balance of the sale price is paid to the vendor.