CAVEAT
If a Caveat is registered on Title it means that some other person has an interest in the land.

CERTIFICATE OF TITLE
A document identifying the ownership of land showing who owns it, whether there is any mortgage or other encumbrance etc affecting the land.

COMMON PROPERTY
A plan that divides a parcel of land into lots.  Common property within the title plan can be areas set aside for such things as sporting fields, swimming pool, club house and or other community activities. It allows for residential houses and strata units with other activities within the community plan.

COMMON PROPERTY TITLE
Title to land on the title plan that has been designated at common property.

CONVEYANCE
The legal process required to transfer ownership of real estate.

CONVEYANCER
A person licensed by Government to advise on any prepared documents to transfer or convey ownership of real estate. Conveyancers are licensed in Victoria to handle other transactions related to land and business transactions.

COVENANT
An agreement by one party to adhere to certain terms, conditions or restrictions regarding the property. This will show on the Certificate of Title and you should be aware of the effect it may have on your use of the property.

DEPOSIT
A deposit is normally paid by the purchaser at the time of exchange of contracts, normally 10% of the sale price, however a lessor amount can be paid if agreed by the vendor.

EASEMENT
A legal right to use a designated part of someone's land for a particular purpose.

ENCUMBRANCE
A burden or charge registered on the title to the property such as a mortgage

FEE SIMPLE 
The highest interest in land that can be owned by an individual.

GOODS (CHATTELS)
Goods or articles that can be removed from the property without causing damage.

FIXTURES
Items such as built-in cupboards, bath, toilet, stove etc that cannot be removed without causing damage.

LAND TAX
A state government tax payable by owners of a property (normally not their permanent place of residence) based on the value of the property.

LEASE
An exclusive right to occupy land owned by someone else.

LICENCE
A non-exclusive right to occupy land owned by someone else.

TRANSFER or INSTURMENT 
A document signed by the vendor and the purchaser that when registered by the Lands Department legally changes the ownership of the land. Usually referred to as simply the 'Transfer'. (Not to be confused with the Contract).

REGISTERED PROPRIETOR
The person whose name appears registered on the Certificate of Title as owner (proprietor of land).

RIGHT OF WAY
A right which gives a person access across certain land. (Usually land owned by someone else).

STRATA TITLE
This is the name given to the ownership of units, townhouses, villas. It is a form of Torrens Title.

SURVEY
Conducted by a registered surveyor who provides a written report showing the position of the buildings and fences in relation to the boundaries and will show any encroachment onto the land or onto the neighbour's land.

TORRENS TITLE
This is the name given to a system of recording ownership of land. It is the most common form of land Title and the cheapest to convey. When you are registered on Title you are guaranteed ownership by the State Government.