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Bankruptcy Search

 

A search made just before completion to make sure a buyer is not bankrupt.

 

Chancel Repair Liability  

 

Sometimes a property will come with an obligation to repair the local Church of England Parish Church. Although rare, it can be extremely expensive and it is possible both to search against and insure against this risk.

 

Chattels  

 

This simply means personal possessions.  If you sell your cooker to the buyers, the amount is shown as payment for ‘Chattels’.

 

Completion

 

This is the date on which the property changes ownership. The seller must usually move out and the buyer may move in on this date.

 

Contract

 

The agreement which sets out the terms of the sale. Once contracts are 'exchanged', the transaction becomes legally binding.

 

Conveyancer  

 

A person who carries out conveyancing work, usually a Solicitor.

 

Conveyancing  

 

The procedure for transferring ownership or property rights from one person to another.

 

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GLOSSARY OF TERMS

Property / Glossary Of Terms