Jargon

Don’t know your Abstract Title from your Deeds of Sale? Then use our jargon buster for a simple explanation of all the weird and wonderful phrases affecting your nest.

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Deeds
The term used for the legal title documents proving ownership to a property or piece of land. The deeds will be held by the mortgage lender.
Deposit
means a sum of money collected from the tenant at the start of the tenancy, as prescribed in the tenancy agreement and held by the Agent on behalf of the Tenant as security against: performance of obligations under the tenancy agreement; any damage to the property etc.; and/or non-payment of rent during the tenancy period. It is not usually released until both parties are in agreement. Alternatively, the money you pay on exchange of contracts as part of your initial contribution to the purchase of your home.
Detached
Term used to describe a property that stands alone and is separated from all others.