Definitions

A glossary list of definitions for conveyancing terms and abbreviations beginning with ‘A’ can be found below.

A
Absolute Title

This is the best class type a property can have. This class of title can be given to both freehold or leasehold land. The owner of a property/land registered with 'absolute title' has the strongest claim to ownership of the property and is subject only to:

  1. entries listed within the title register
  2. unregistered interests within the Land Reform Act 2002
  3. interests of any beneficiary under a trust
  4. where the land is leasehold, the terms detailed within or implied by the Lease
Abstract of Title

A document listing the history of ownership of a property.

Abuttals

The parts of a property boundary which touches land next to it.

Additional Enquiries

Further questions raised by the buyer’s solicitors, even after the original enquiries may have already been answered in full.

Adopted Highway

A road maintained at the cost and expense of the local authority, to which all the general public have a right to use.

Adverse Possession

Where a person(s) occupy land without the permission of the owner, but if occupied for a certain period of time may seek to claim ownership of the land for themselves.

Agreement

The legal document which sets out the details of the property, the parties involved, the purchase price and other terms of the conveyancing transaction. An Agreement can otherwise be known as the Contract.

AML

Stands for Anti-Money Laundering, see Anti-Money Laundering.

Anti-Money Laundering

It is our responsibility to ensure that your source of funds is legitimate and not laundered. To comply with Anti-Money Laundering Regulations, we must request from all clients copies of bank statements and explanations as to how you attained your money for your property purchase.

Apportionment

The proportionate amount of money a buyer or seller has to contribute or is entitled to receive upon Completion. This usually relates to Leasehold properties where ground rent and/or service charges are payable for a specific period of time. An apportionment is often needed due to money regarding these either being owed or over paid, and this is an adjustment to make sure the buyer and seller only incur these costs for the time they actually own the property.

Appreciation

The increase in value of a property.

Arrangement Fees

Arrangement fees are administration fees which may apply when proceeding with a particular mortgage deal. These can be paid up front or can be added to the final loan amount. However adding these fees to the loan increases the mortgage debt, so in the long term it is always cheaper to pay these at the time of purchase.

Assignment

A term used to describe the transfer of ownership from a seller to a buyer, often used for leasehold properties where a Lease is described as being ‘assigned’ from the Seller to the Buyer.

Attorney

Someone formally appointed to act on behalf of another, either generally or for a specific purpose. This is often formalised through registration through via Court.

Auction

An Auction is the sale of a property to the highest bidder. The fall of the hammer is equivalent to the exchange of contracts. If you are the successful bidder you are legally bound to buy the house. You should be careful to ensure your solicitor reviews the Auction Pack in advance of the date of the Auction and that you have the funding in place to complete the purchase before you make any bids on the property.

Auction Pack

Similar to the Contract Pack it is available from the Auctioneer and contains the title ownership evidence of the seller, various searches and other property information. This can be reviewed by your solicitor so they can advise you on the suitability of the property before you decide to bid on the property at Auction.