Definitions
A glossary list of definitions for conveyancing terms and abbreviations beginning with ‘P’ can be found below.
- Party Wall
A wall owned jointly with an adjoining neighbour and repairable at shared expense.
- Planning Permission
A document representing the formal approval of a local authority to build/alter the property building.
- Possessory Title
Similar to ‘Absolute Title’ except plus any adverse interests from the date the property was first registered. This class of title can be given to both freehold and leasehold land. This type of title will often be granted if the current owner is in possession of the land but cannot show full evidence of his ownership, usually meaning the title deeds have been lost and a claim through adverse possession under the Limitation Act 1980.
- Power of Attorney
The formal document by a person appointing another to act on his/her behalf as their Attorney.
- Private Road
A road maintained by property owners at their own expense rather than by the local authority. The property owners must all have rights of easement over the road in order to use it, as the general public will not usually have a right to use it.
- Property Information Form
This is the TA6 form that is completed by the Seller which provides details of the property. A seller completing a Property Information Form must do so carefully and thoroughly. If the information is not provided honestly it could cause a Seller serious issues as the Buyer will seek to rely upon this information. If information or documents are requested within the form, the seller should provide these to his/her solicitor immediately to minimise any delays to the conveyancing process.
- Proprietor
A person who currently owns a property or a piece of land.
- Purchaser
A person buying a property. Can also be recognised as a Buyer or Transferee.