Glossary of Terms

The transfer of funds via a bank. Funds are usually transferred via CHAPS. It can be used to transfer funds between solicitors on completion of a property purchase.

The person granted a lease.

Property owned by more than one person is owned either as tenants in common or joint tenants.
Under a tenancy in common, each tenant in common owns a specified share of the beneficial interest. On the death of a tenant in common, their specified share will be dealt with in accordance with the terms of their will, or under the rules which apply on intestacy.
If the owners opt for a joint tenancy, then they each own the whole of the beneficial interest, which means that the survivor of them will have an automatic right to the property on the death of one or others of them.

Claim to ownership of land.

The deeds and documents which provide evidence of a person’s right or title to a property.

The reference number allocated by the Land Registry to each registered title in land.

The document which transfers the title in land to a new owner.

An order made by a local planning authority which prevents trees from being cut down or lopped without permission.