Glossary
Property Law and Conveyancing Glossary
Glossaries
Term | Definition |
---|---|
Bank | A financial institution. |
Bequest price | A testator, in making a bequest to a particular legatee, may stipulate that, in consideration of such bequest, the legatee is to pay a fixed sum of money or transfer a property either to the estate or to another named beneficiary. Such payment is known as a bequest price. |
Body Corporate | The controlling body of a sectional title scheme responsible for the costs of upkeep and maintenance of the property. |
Bond | |
Bond (mortgage) | Provides a limited real security right on the thing of another as security for the payment of a debt. A distinction is made between a mortgage over immovables and a notarial bond over movables |
Bond Registration Fees | Payable by the borrower to the bond attorneys who are attending to the registration of the bond at the Deeds Office. |
Bond Term | The time period over which you have to repay your home loan. |
Borrower | |
Breach Clause | A condition in a contract setting out the rights responsibilties procedures and remedies in the event that one of the parties defaults on his/her/it's/their obligations on terms of the deed of sale. |