Glossary

Property Law and Conveyancing Glossary

There are 257 entries in this glossary.
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Glossaries

Term Definition
Interest

The fee charged for borrowing money. Afrikaans - Belangstelling

Interest Bearing Account

When attorneys and/or realtors hold money for clients it is deposited into separate Interest Bearing Accounts until these monies and interest accrued during this time have to be paid out to whom they are owed. Afrikaans - Rentedraende Rekening

Interest Rates

The percentage of a loan that a financial institution charges which is payable monthly. Afrikaans - Rentekoerse

Intestate estate

This is an estate:

- Where the deceased died without leaving a will, or

- Where he/she did leave a will but this will was not accepted by the Master, or

 

- Where it was accepted by the Master but it failed for some for other reason.

Investor

A money source for a lender. Afrikaans - Beleggers

Joint Income

The total gross income of the mortgage applicants. Afrikaans - Gesamentlike Inkomste

Joint Venture

An investment entity formed by one or more entities in order to acquire or develop and manage assets.

Joint will

This is a document containing the wills of two or more persons, and is most frequently made by spouses married in community of property to each other.

Judgement

A legal recording of a person’s inability to honour a debt. Afrikaans - Vonnis

Landlord

The person who lets out a property to someone else. Afrikaans - Verhuurder

latent defect

A latent defect on the other hand is one that cannot be seen or ascertained during the course of a normal property inspection.

Lease Agreement

A contract whereby the landlord allows the tenant temporary use of a dwelling in return for payment known as rent. Afrikaans - Huurkontrak

Legal capacity

The power or ability to be the bearer of rights and duties

Legal Entity

A company close corporation or trust. Afrikaans - Regspersoon

Legatee

A person to whom the testator has bequeathed a specific thing or general things or a sum of money, that is, a specific bequest.

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