Dictionary Conveyancing Terms

Property Law and Conveyancing Glossary of Terms

Search for glossary terms (regular expression allowed)
Begin with Contains Exact term
Term Definition
Mandate

An instruction, authority or agreement given to a realtor by a seller, to market their property. Afrikaans - Mandaat

Mark Value

The price that a willing and financially able buyer would pay, to a willing seller, for a property in a particular area at a given time. Afrikaans - Markwaarde

Married in Community of Property

Parties have a joint estate and any immovable property will be registered in both spouses’ names. Afrikaans - Getroud Binne Gemeenskap Van Goedere

Maturity

The date on which the principal balance of a loan becomes due and payable.

Memorandum

This document forms part of the constitution of a company and contains valuable information about the company.

Minor

A person who is unmarried and under the age of 21. Afrikaans - Minderjarige

Mortgage

An agreement between the customer and a bank in the form of a homeloan, whereby the property is used as the security for the loan. It is a legal document that pledges a property to the lender as security for payment of a debt. Afrikaans - Verband

Mortgage Originator

An individual or company that assist buyers in applying for a mortgage, homeloan or building loan, with the different banks. Afrikaans - Verband Skepper

Mortgagee

The lender usually a bank, that advances or lends money on the security of a property purchased.

Mortgagor

The borrower, who borrows from a lender by mortgaging his property to the lender as security. Afrikaans - Verbandgewer