At Nelson Myatt we pride ourselves on using plain, easy-to-understand language to communicate with our clients. But, when you are buying a house then you might come across all sorts of words you haven’t seen before. Here’s our handy guide to a few of the most common:
What is Conveyancing – this describes the process of transferring a house or land from one person to another. What are Contracts – these are the legal documents which set out how and when the house or land will be transferred. The deal is confirmed once contracts have “been exchanged”. What is an Easement – this is a right of way over one piece of land for the benefit of another. For example, this could be a driveway or path over land your neighbour owns to give you access to your house.
What are Office Copy Entries – these are the Land Registry documents which show the boundaries of a piece of land, who owns it and whether there is a mortgage on it, amongst other things. What does Unregistered Land mean – this is land which hasn’t been registered at the Land Registry. If a property isn’t registered then the owners still need to produce a bundle of deeds to prove that they own the land. When it is sold now it will be registered with the Land Registry. Since 2002 registration has been compulsory and therefore unregistered land is becoming less common. What is Caveat Emptor – this means “buyer beware”. It is a principle which means that a buyer must raise all queries before exchange of contracts.