Freehold estate in land, the most extensive tenure allowed under the feudal system. A person who owns a fee simple estate may sell it, convey it by will or it may be transferred to an heir if the owner dies without leaving a will. For a fee simple estate to be conveyed in a will, the proper words of limitation must be used: either "To X in fee simple" or "To X and his heirs".

Thin sheets of lead or similar material used to form a waterproof join at the point where two structures of differing angles meet, normally on a roof.

A price one would expect to obtain for a property on the open market without delay, assuming that a normal or reasonable amount of time is not available in which to market that property.

Person (such as a trustee, company director or executor) who exercises rights and powers for the benefit of another person, but without being under the control of that person. A fiduciary must not allow any conflict of interest to affect his duties and would not normally be allowed to profit from his position.

Person who owns freehold property rights.

The front boundary of a property.

Forfeiture of a right of redemption on a property (generally when someone fails to pay a mortgage). Even if there has been no payment, the borrower normally retains a equitable right of redemption if he can raise the money to exercise the right. To clear the title of this potential right, a lender can apply to court for a date to be set, by which the entire amount becomes payable. If payment is not made, the property belongs entirely to the lender, who is then free to go into possession or to sell it.

Dishonest conduct designed to persuade another person to give something of value by lying, repeating something that is or ought to have been known by the fraudulent party to be false or suspect, or by concealing a relevant fact from the other party. Fraud allows a court to void a contract or to set aside a judgment, and can result in criminal liability. A person who defrauds creditors of a company may be held personally liable.

Right to the full use of real property for ever (as opposed to leaseholds or tenancies, which allow possession only for a limited time).

All non-structural items included in the purchase of a property.