The A-Z of Property Terms

225 Pages·2006·4.375 MB·English

by  A & C Black

The
A-Z of Property
Terms
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The
A-Z of Property
Terms
www.acblack.com
First published in Great Britain in 2006
A & C Black Publishers Ltd
38 Soho Square, London W1D 3HB
© A & C Black Publishers Ltd 2006
All rights reserved. No part of this publication may be reproduced
in any form or by any means without the permission of the publishers
A CIP record for this book is available from the British Library
eISBN-13: 978-1-4081-0163-6
Text Production and Proofreading
Heather Bateman, Katy McAdam, Howard Sargeant, Lauren Simpson
This book is produced using paper that is made from wood grown in managed,
sustain able forests. It is natural, renewable and recyclable. The logging and
manufacturing processes conform to the environmental regulations of the country
of origin.
Text typeset by A & C Black
Printed and bound in Great Britain by Bookmarque Ltd, Croydon, Surrey
Introduction
Ask anyone who has ever bought, sold, let or renovated a property about
their experiences, and they’ll probably tell you that it can be a
time-consuming, daunting and downright confusing business.
At such a potentially stressful time as buying or selling a home, one of the
most frustrating tasks is getting to grips with the endless technical jargon.
Even old hands at the process can sometimes find themselves struggling to
make sense of what their estate agent, surveyor, builder or financial advisor
is talking about.
Whether you need to decipher a surveyor’s report or a mortgage document,
the A-Z of Property Terms has been expertly compiled to help you cut
straight through the confusion. Containing over 3,000 key words and
phrases, it is ideal for first-time buyers and sellers, tenants, landlords,
developers, tradespersons, builders and buy-to-let investors.
Whatever type of transaction you’re involved in, the A-Z of Property Terms
is the ultimate jargon-busting glossary. We hope that it proves invaluable as
you negotiate the property maze.
Our thanks go to Victoria Young, Martin Sandall and Julie Steele for their
valuable help and advice during the making of this book.

Property.fm Page 1 Tuesday, October 3, 2006 3:34 PM
A
aabandbonmenat ndonment (of easement) noun an agreement to give up a right to
use a part of another person’s property, e.g. a common access route
AAbatemebnt Noaticetement Notice noun a legal order to stop doing something which is
creating a statutory nuisance, such as smoke or noise pollution, served under
the 1990 Environmental Protection Act
aabatebment parocetduree ment procedure noun the act of stopping someone from creating an
environmental nuisance, by serving an Abatement Notice on them
aabeyabnceeyance noun a condition in which legal ownership of an estate has not
been established
AABI BI abbreviation Association of British Insurers
aabogabdo ogado, abogada noun (in Spain) a lawyer
AAbolitibon ofo Feudlali Tetnurie oetc Acnt 200 0of Feudal Tenure etc (Scotland) Act 2000 noun an act
that replaced the feudal system of land ownership that had existed in Scotland
with a system of outright ownership of land
aabsolbute tsitleolute title noun land registered with the Land Registry, in which case
the owner has a guaranteed title to the land (NOTE: Absolute title also exists to
leasehold land, giving the proprietor a guaranteed valid lease.)
aabstrbact osf tittleract of title noun a summary of the details of the ownership of a
property that has not been registered

aabutmbentutment noun 1. the state of touching or being adjacent to an object or
piece of land along one side 2. the point at which two things abut 3. a structure
that supports or bears the thrust of something
aabuttbal uttal noun the boundaries of a piece of land in relation to land that is
adjoining
Property.fm Page 2 Tuesday, October 3, 2006 3:34 PM
accelerated possession procedure
aaccelceratecd posesesslione prorceduareted possession procedure noun a legal procedure that
allows a landlord’s claim to repossess a property at the end of a tenancy to be
decided by a court purely on the basis of written representations
aaccepctanceceptance noun 1. a written or verbal indication that someone agrees to
an invitation or offer 2. formal written or verbal agreement showing that
someone assents to the terms and conditions in a contract
aaccescs cess noun a means of entering or approaching a place, e.g. a door or a
driveway (cid:2) verb to find a means of entering or approaching a place
aaccescsibilcityessibility noun how easy it is to enter or approach a place, e.g. for a
wheelchair user
aaccescsiblecessible adjective easy to enter or approach, e.g. for a wheelchair user
AAccess cto Necighbeourinsg Lansd Act to Neighbouring Land Act noun an act that gives a right of
access to a neighbour’s land in order to carry out basic preservation works on
your own property
aaccidcent, csickniesds ande unemnploymtent, i nsusrancieckness and unemployment insurance noun insurance
cover that protects against loss of income in cases of accident, illness or
unemployment
aaccidcent pcolicyident policy noun any insurance policy that pays money if an accident
takes place (NOTE: Accident policies can be held by employers to cover claims
made by employees, by companies to cover claims made by the public, or by
an individual against personal financial loss.)
aaccomcpaniecd vieowingmpanied viewing noun a service for sellers of property in which an
estate agent conducts a viewing of the property for prospective buyers
aaccruced incteresrtued interest noun interest that has been earned by an interest-bearing
investment
AACH CH abbreviation Automated Clearing House
AACOPCOP abbreviation Approved Code of Practice
aacousctic eongineuer stic engineer noun an engineer who gives advice on reducing
unwanted noise in a building, usually at the design stage
aacousctic poanelustic panel noun a panel of soundproof material that fits together with
others to form a soundproof surface, e.g. a wall or ceiling
aacouscticsoustics noun the study of sound, especially noise levels in buildings (cid:2)
plural noun the quality of the sound in a room, affected by the shape and size
of the room and the materials used in it
aacrecre noun a unit of area used in some countries, including the United States
and the United Kingdom, equal to 4,046.86 sq. m./4,840 sq. yd
aacte cde vetntee de vente noun (in France) a deed of sale, usually drawn up by a notary
2
Property.fm Page 3 Tuesday, October 3, 2006 3:34 PM
adverse rights
aactuacl occtupautional occupation noun a person who is living in a property at the present
time
aactuacl postsesusional possession noun the situation of occupying and controlling land
and buildings
aaddenddumdendum noun something that is or has been added, e.g. to a contract
aadditdionald loanitional loan noun a second or subsequent loan to a mortgage holder at
one of the mortgage rates that the lender is offering its customers
aadditdionald priniciptal ipaoymentnal principal payment noun a mortgage payment that is higher
than the scheduled amount, made in order to reduce both the outstanding loan
and the interest on it
aadditdionald survieytional survey noun a detailed survey carried out on a specific aspect
of a property, e.g. the condition of the roof or the electrical system, in addition
to the main valuation or homebuyer’s survey
aadjoidn join verb to be next to or share a common border with another property or
area of land
aadjoidningjoining adjective next to and touching something else
aadjusdtablej raute mosrtgagteable rate mortgage noun a mortgage in which the interest rate
changes according to the current market rates. Abbreviation ARM
aadjusdtorjustor noun same as loss adjustor
aadmindistramtion feeinistration fee noun a fee that lenders charge for providing a
mortgage, nominally to cover the cost of sourcing funds and normally non-
refundable if the mortgage does not proceed
aadmindistramtive recieinveristrative receiver noun a person appointed by a court to administer
the affairs of a company
aad vadlorem duvtyalorem duty noun a tax calculated according to the value of the goods
taxed
aadvandce vance noun 1. a quantity of money or goods supplied before payment is
made or repayments begin 2. a loan of money (cid:2) verb to supply something or
part of something, especially money, before it is due
aadverdse crvediterse credit noun the fact of owing money, especially of having a bad
credit history that makes obtaining a mortgage difficult
aadverdse crvedit emortgragese credit mortgage noun a mortgage made available to someone
with a bad credit history, usually with a non-mainstream lender
aadverdse povssesseionrse possession noun an occupation of property by squatters or
others that is contrary to the rights of the real owner
aadverdse rivghtserse rights noun any rights or easements that somebody else has over
a property on the market, which could be inconvenient for new owners
3