Property Law and Conveyancing Glossary of Terms
|Second Bond or Mortgage||
An additional loan on a home.
A development made up of sections, whereby all section owners are members of a Body Corporate. Each section owner is responsible for their own section. Afrikaans - Deursnee Titel
|Sectional Title Register|
Two separate homes, joined with one common dividing wall.
When a creditor seizes assets to recover unpaid debt. Afrikaans - Gesekwestreer
A sectional title unit on one level with no stairs. Afrikaans - Simpleks
A property of maximum 20 hectares situated within close to a built-up area. Afrikaans - Kleinhoewe
A tax imposed by the government.
Written law of the country. Afrikaans - Statutêre Wet
Dividing of property into two or more portions, whereby a specific legal and technical procedure must be followed. Afrikaans - Onderverdeling
A term used to describe that the sale will only become unconditional if and when the stipulated conditions are met.
A housing allowance. Afrikaans - Subsidie
A person who stands as guarantor for a loan for someone else. Afrikaans - Borg
A measurement of land, prepared by a registered land surveyor, showing the location of the land with reference to known points, its dimensions, and the location and dimensions of any buildings. Afrikaans - Opmeet
|Surveyor General's Diagram||
A diagram that shows sub-divisions, servitudes and expropriations.
Conditions written into the Offer to Purchase by either party that must be fulfilled for the agreement to become unconditional and legally binding. Afrikaans - Ontbindende Voorwaardes