Legal Glossary

Typically used in the context of your estate agent.

Where two parties both agree on a set of facts or course of action. For example, when a formerly married couple agree the terms of their divorce.

A person who makes a formal application for something. For example, the person who starts the legal proceedings.

A document in which the applicant states their intention to seek a Court Order.

Things owned by a person. These will form part of a person’s estate. For example, a house, car, or other belongings

A person appointed in a Lasting Power of Attorney to act on behalf of another in relation to legal matters. For example, being appointed as an Attorney in relation to property and financial affairs allows you to make decisions on the Donor’s behalf about things like money, tax and bills.

A gift of money or personal property from a person’s estate that is given on death as listed in their Will.

A property chain is where a group of home buyers and sellers are connected. For example, if you are buying a house but you have to wait until the seller buys their next home. Being in a chain means that moving house could potentially take longer.

Chancel Repair is a law which requires landowners of land formerly owned by the church to pay for repairs to their local church. Chancel insurance is a one-off payment which covers the buyer for the duration of their ownership of the property.

When the sale or purchase of a property officially completes. At this point the property legally belongs to the buyer.

The bill for the purchase of your property, setting out exactly what you need to pay on completion. This includes legal fees, disbursements, and so on.

To defend against an adverse claim made in a Court by a plaintiff or a prosecutor; to challenge a position asserted in a judicial proceeding. For example, a disgruntled relative may formally contest the probate of a Will.

The branch of law practice consisting of examining titles, giving opinions as to their validity, and drawing of deeds etc., for the conveyance of property from one person to another.

A covenant is an agreement that can restrict or limit the use of a property. For example, a covenant could prevent a building from being converted into flats, or an extension being built.

Something that is owed to another party. For example, a mortgage loan, car financing agreement, or credit card debt.

A Court of Law’s final Order officially ending a marriage; enabling either party to remarry.

A Court Order stating the date on which a marriage will end unless good reason not to grant a divorce is produced.

The act of leaving without permission or without planning to return. For example, the act of leaving someone in a difficult situation or without help in relation to a marriage.

A payment made to a third party on your behalf, which will be claimed back from the client.

The legal dissolution of a marriage by a Court or other competent body.

An Energy Performance Certificate (EPC) measures the energy efficiency of a property, and also recommends ways in which the energy performance of the property can be improved. EPC ratings are marked on a scale of A – G, with A being the highest rating, and G being the lowest. Typically, the better the EPC rating, the cheaper the property is to heat and run in terms of electricity usage.

The economic valuation of all the investments, assets, and interest of an individual. The estate includes a person’s belongings, physical and intangible assets, land and real estate, investments, collectibles, and furnishings.

A person who provides services for the marketing and sale of property.

A contract to exchange goods without money being involved. For example, this is the point where you sign a contract agreeing to either buy or sell your house. By signing the contracts you are committed by law to buying the property. The conveyancer dealing will then “exchange” these contracts and then pay the deposit.

The Court Order for the dissolution of a civil partnership. This means the partnership is legally at an end and the parties are free to enter into another civil partnership.

Any person other than an account owner or authorised legal representative who contributes an amount to account for a beneficiary.

A non-ministerial department of the Government of the United Kingdom to register the ownership of land and property in England and Wales.

An authentication process that compares the identity of a person claims to possess with data that proves it.

A way in which two people own a property. A Joint Tenancy is where more than one party owns the land or property, in which where one owner dies, the other owner automatically becomes the legal owner of the whole property.

A document which gives someone you trust (your Attorney) the legal authority to make decisions on your behalf if you lose the mental capacity to do so yourself in the future, or if you no longer want to make decisions yourself. There are two types of Lasting Powers of Attorney – Property and Financial Affairs and Health and Welfare Decisions.

A Lease is a document that outlines the rights and obligations of a Landlord and Tenant in a rental agreement. The Landlord will be referred to as the Lessor, and the Tenant the Lessee.

An abbreviation for Lasting Power of Attorney. A document which gives someone you trust (your Attorney) the legal authority to make decisions on your behalf if you lose the mental capacity to do so yourself in the future, or if you no longer want to make decisions yourself. There are two types of Lasting Powers of Attorney – Property and Financial Affairs and Health and Welfare Decisions.

A legal agreement which documents the details of a sale and purchase of a property. The agreement between the buyer and seller subject to contract.

The Modern Method of Auction is a more digital approach auction. After the gavel falls on a bid for a property, the buyer must pay a non-refundable Reservation Fee or Reservation Deposit to reserve the property. Whether the payment due is a Reservation Fee or a Reservation Deposit will vary from property to property, although this will be stipulated in the Auction Terms for the property. With the Modern Method of Auction, the purchase will usually be completed within 56 days of the Draft Contract Pack being received by the buyer’s solicitors.

An agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you have borrowed, plus interest. Mortgage Loans are used to buy a home or borrow money against the value of a home you already own. Lender means an organisation or person that lends money.

A straightforward and amicable approach to separation. Couples will be able to file for a divorce or civil partnership dissolution without having to place blame on their former partner

Office of the Public Guardian (OPG) help people in England and Wales to stay in control of decisions about their health and finance and make important decisions for others who cannot decide for themselves. The OPG is an executive agency sponsored by the Ministry of Justice.

The payment of money up front towards the legal costs and disbursements before work is carried out.

A person who presents a petition to an authority in respect of a particular cause.

A document, produced by the Probate Registry that confirms the named executors are authorised to legally administer the deceased’s estate, in accordance with the terms of the Will.

Something owned or possessed by someone. For example, a house.

Property registration is the process of officially registering land ownership with HM Land Registry.

Property searches are searches that we make on the property that you are purchasing. They look for things like any nearby landfill sites, mining sites, who provides the water and electricity in the area and much more. You can read more about searches on our Property Searches blog.

An act of buying a property from another in exchange for valuable consideration.

The process of paying off one mortgage with the proceeds from a new mortgage using the same property as security.

A transfer of ownership in exchange for a price paid or promised or part paid and part promised.

Property searches are searches that we make on the property that you are purchasing. They look for things like any nearby landfill sites, mining sites, who provides the water and electricity in the area and much more. You can read more about searches on our Property Searches blog.

The word “spouse” can be used to refer to the husband or the wife.

Owning a property as Tenants in Common means that each owner has their distinct share of the property. When a Tenant in Common dies, their share will pass to their personal representative as part of their estate.

The Title Plan uses OS map information to outline the boundaries of the property to be clear about the ownership of the land.

A “title report” is your protection against unforeseen issues with a parcel of land you wish to buy. It contained the results of title search, including the legal owner, the legal description of the property, and any problems clouding the title such as liens and encroachments.

When a property is sold by the Traditional Method of Auction, the 10% deposit is paid by the buyer alongside the non-refundable Reservation Fee and contracts are exchanged. Unlike the Modern Method, Completion usually takes place 28 days after the auction. The Traditional Method of Auction is usually better suited to cash buyers and investors.

“Transfer of Equity” occurs when a property’s owner adds or removes a person (or people) to or from the title on the home, altering the “ownership” of the property from a legal perspective. It does not necessarily involve the transfer of any money.

Is a document proving that the person or company has the financial ability to perform a transaction. The Proof of Funds can be issued by a bank, financial institution or a trade finance.

A legal document in which a person (the testator/testatrix) declares their intention as to what should happen to their estate after their death, and which is executed in accordance with certain legal formalities.