Person to whom a landlord grants temporary and exclusive use of land or a building, usually in exchange for rent. The contract for this type of legal arrangement is called a lease.
Tenants-in-common share property rights, but may hold different parts of a piece of land, or unequal shares. On the death of either of them, that person's share does not pass automatically to the surviving tenant but becomes part of the deceased's estate.
This is an arrangement whereby prospective purchasers are invited to submit sealed bids by a previously stated date and time. The moment the offer is accepted by the seller, the arrangement becomes a legally binding contract.
A collective term which relates to the nature of the owners title to a property i.e. is it freehold or leasehold.
Documents showing the legal ownership of a property, which are normally held by a vendor’s
mortgage lender.
Property that could be subject to common law tenure, such as land, buildings or apartments. In relation to business tenants, a tenement is a defined portion of a building held by the occupier on a tenancy and not dependent on the continued employment of the tenant.
Right to hold or occupy land or a position for a certain amount of time.
Person who dies after making a valid will.
Non-contractual breach of duty which allows the injured person to claim compensation (or damages) from the tortfeasor. Torts include wrongs such as negligence, nuisance, defamation, false imprisonment and trespass.
A Land Registry document that transfers the ownership of a property on completion in registered land transactions.
Unlawful interference with another person or his property or rights. Trespass is a civil, not a criminal, offence and is actionable without proof of any actual damage.
Property given by a donor or settlor to a trustee, for the benefit of another person (the beneficiary or donee). A trustee manages and administers the property. A will is a form of trust but a trust can be formed during the lifetime of the settlor, in which case it is called an inter vivos or living trust.
Person who holds property rights for the benefit of another through the legal mechanism of the trust. A trustee usually has full management and administration rights over the property, which must be exercised to the advantage of the beneficiary. All profits from the trust go to the beneficiary, although the trustee is entitled to recover administrative costs.