Definitions

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

V
Vacant Possession

Possession of a property free from the presence of any people, possession or rubbish.

Valuation Survey

A very simple form of survey, often required by a mortgage lender before they will agree to provide a Mortgage Offer on a property. The purpose of this type of survey is to determine the true market value of the property and whether it is worth the money being proposed to buy or remortgage it.

Vendor

A person selling a property. Can also be known as a Seller or Transferor.