Thinking of buying a property? You’ll need to hire a conveyancer to guide you through the legal minefield. You can start your search for a conveyancer here. 

If you’re not sure what a conveyancer does, you can read our useful guide to get in the know.

Conveyancing is full of jargon. So you need to translate the terms into plain English in order to understand them properly.

Caveats

If there is a Caveat registered on the property title, that means someone else holds an interest in the property. Commonly this might include a utilities company such as the water or gas supplier. The council might also have an interest in the land, such as a heritage protection order or a vegetation protection order. 

Certificates 

A Certificate of Title is the document identifying the ownership of the land, and any attached mortgage.

Community Plan

A community plan divides land into community lots and property that can be used for playing fields, swimming pools, club houses or other community activities.

Covenants

A Covenant is an agreement by one party to adhere to certain terms, conditions or restrictions regarding the property which will show on the Certificate of Title, and may affect the way you use the property.

Easement

An Easement is a legal right to use a particular part of someone’s land for a particular purpose.

Encumbrance

An Encumbrance is a burden or charge registered in the title, such as a mortgage.

Fee Simple

Fee Simple is the highest interest in land that any individual can own.

Fittings & fixtures

Fittings are goods or articles that can be removed without damaging the property, while Fixtures are items such as built-in cupboards, baths and stoves that cannot be removed without causing damage.

Land tax,

Land Tax is a state government tax payable by owners of a property which is not their normal place of residence and based on its value.

Lease

A Lease is an exclusive right to occupy land owned by someone else.

Licence

A licence is a non-exclusive right to occupy land owned by someone else.

Memorandum of Transfer

A Memorandum of Transfer (more commonly known as the Transfer) is a document signed by the vendor (seller) and purchaser that when registered by the Lands Department legally changes the ownership of the land.

Right of way, , survey,  and valuation

A Right of Way allows access across land usually owned by someone else

Strata title & Torrens title

A Strata Title is the name given to the ownership of units, townhouses or villas, and is a form of Torrens Title, which is a name given to a system of recording ownership of land, and once registered on the title, it guarantees ownership by the state government.

Survey

A Survey is a written report showing the position of buildings and fences in relation to the boundaries, and shows any encroachment onto neighbour’s land.

Valuation

And a Valuation is a written report showing a registered valuer’s opinion of the value of the property. This is usually required by the lender so they know what the market value of the property is.

If you need a conveyancer, find one close to you. Start your search here.