Dictionary Conveyancing Terms

Property Law and Conveyancing Glossary of Terms

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Electrical Compliance Certificate

A certificate, which is issued by a qualified electrician stating that the electricity installation for a property, from its supply point, is safe according to the Occupational Health and Safety Act. The cost of this and any electrical repairs that need to be made are for the seller’s account. It is legally required in order for the property to be transferred into the purchaser’s name. Afrikaans - Elektriese Compliance Sertifikaat

Endorsement

A note made on the title deed of a property by the Registrar of Deeds. Afrikaans - Endossement

Entomologist's Certificate

Legally required in some coastal provinces before transfer of a property can take place, confirming that its structure is free of wood borer or termite infestation. Afrikaans - Entomoloog Sertifikaat

Equity

The value of a property an owner has over and above the mortgage against the property.

Escape Clause

A condition in a contract, when a buyer is given time to sell his property first, giving the seller the right to cancel the agreement if he gets a higher offer from another buyer.

Estate

When a person dies, all their assets and liabilities will be placed in their deceased estate, which is wound up by an executor. Afrikaans - Boedel

Evaluation

A realtor gives an informed opinion on the market value of a property, commonly known as a comparative market analysis (CMA). Afrikaans - Evaluering

Exclusive Use Area

The owner of a sectional title unit can never become the owner of any portion of common property, but they can acquire the right of the exclusive use of a certain portion, such as gardens and parking bays. Afrikaans - Eksklusiewe Gebruiks Area

Expropriation

Procedure where a property is taken over, usually by local authorities, for specific purposes in the public interest. Afrikaans - Onteiening