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C

There are 99 entries in the glossary.
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Term Definition
CaveatA document any person with a legal interest in a property can lodge with the Titles Office to ensure the property is not sold without their knowledge.
 
Caveat EmptorLatin for 'Let the Buyer Beware.' This puts the burden onto the buyer to be satisfied with the property before purchasing.
 
Certificate of TitleLegal proof of ownership of a property, carrying the owner's name and other information.
 
ChattelsChattels are personal property. There are two types. Real chattels are buildings and fixtures. Personal chattels are clothes, furniture, etc.
 
Cluster housingDetached group of houses that share open space.
 
Cluster TitleEach Cluster Title holder has a Certificate of Title, which specifies ownership in terms of a particular area for which the owner is responsible, and defines the common property. Unlike a Strata Title, it does not subdivide 'airspace.'
 
CommissionFee payable to real estate agent for selling a property by the person authorising the sale. Usually a percentage of the sale price.
 
Common PropertyAreas in strata-title properties shared by all owners.
 
Company titleThis title applies when owners of flats in a block form a company. Each has shares in the company which owns the land and buildings. The owner of the shares is entitled to exclusive occupation of a flat. However, if you want to alter occupancy in any way, you must have the company's approval to do so. See your solicitor before buying.
 
Contract NoteThe first document signed on buying a house is sometimes a Contract Note, instead of a Contract of Sale. This document when signed by both parties is a legally binding as a Contract of Sale and the buyer and seller should treat it with the same importance. It must be accompanied by a Vendor Statement.
 


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License #: Hokkaido Governor Shiribeshi (1) No. 314