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Definitions (36)
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caveat
If a caveat is registered on the title it means that some other person claims an interest in the land
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certificate of title
A document identifying the ownership of land, it shows who owns it, whether there is any mortgage or other encumbrance etc. effecting the land.
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community plan
A plan that divides a parcel of land into community lots and common property, within the community plan can be areas set aside for such things as playing fields, swimming pool, club house and or other [..]
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community title
Title to land within a community plan.
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conveyancing
The act of act of transferring property title from one person (Vendor) to another (Purchaser).
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contract
A Contract for the Sale of Land betwee a Vendor and Purchaser to buy and sell a specified parcel of Land.
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cooling off period
A period of days which commences immedialty after entry into certain Contracts during which the Purchaser may rescind the Contract, usually subject to a small monetary payment to the other party.
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covenant
An agreement by one party to adhere to certain terms, conditions or restrictions regarding the property. This will show on the certificate of title and you should be aware of the effect it may have on [..]
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deposit
A sum of money, usually 10% of the purchase price, put down to secure a property.
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deposit bond
A guarantee made by a financial institution that in the event the purchaser defaults from the Contract the financial institution guarantees to pay the 10% deposit owed to the Vendor. It is a financial [..]
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