The legal process of transferring a property from one owner to another.
This refers to a promise contained in a deed.
The document that is signed or sealed.
When related to land, it refers to ownership of that land.
A Person or institution appointed by a testator to carry out the terms of their will.
This is when a section of a freehold property extends above or below a neighbouring or adjoining property.
Freehold ownership is where the person owns outright all of the land and buildings on a plot. For example, houses are usually freehold properties.
More than one person owns the property/ land. If one of them were to die, then the surviving ownership rights would pass to the other partner(s).
A contract signed by tenants when property or land is rented out.
Leasehold means that you only own a lease to the property for a fixed period of time. The freeholder, often called the landlord, owns the property itself. The freeholder can be a person or a company.
Specifies the length of time that a lease is valid.
Is a legal term sometimes used in place of ‘mortgage’.
Particulars of Sale
A description of the property that is for sale and the Terms and Conditions under which the sale will proceed.
Power of Attorney
Authority given to someone to allow another person to act on their behalf.
Refers to HM Land Registry who record property ownership details in England and Wales.
Sale Subject to Contract
Either party can withdraw from a property purchase and not be liable.
Possession of land or property owned by someone else.
Person who lives in a property or on land not owned by them.
Tenants in Common
This is the opposite to Joint Tenants. If more than one person has an interest in land and they were to die, their ownership would form part of their estate and would not pass to the surviving party.
Land is held on specified terms – usually freehold or leasehold.
Property is given to a person to be used for a particular purpose – in the case of death, a house may be passed to a spouse on condition that it is held in trust for any surviving children.
Person selling the property.