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Clear communication is essential for good business. The use of standard terminology both informs a market and makes it more efficient.

The following Glossary of Property Terms is a joint publication of the Property Council of Australia, Australian Property Institute and Real Estate Institute of Australia. It defines terms commonly used by property practitioners, from sophisticated analysts to mum and dad investors. Each term has undergone a thorough comparative analysis with existing definitions from a wide range of sources.

It is important to note that many terms, especially highly technical terms, have different usage internationally and we would like to update the glossary to include commonly used New Zealand terms

There are even subtle differences between professions.
We welcome comments on the definitions published in this edition and any suggestions for new terms to be included. Please click on the comment button to added any comments regarding the definition.



Browse the glossary using this index

Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O
P | Q | R | S | T | U | V | W | X | Y | Z |

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A

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See Office Building Grade.
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"An official reduction, allowance or rebate. An abatement pro rata is a proportionate reduction of the amount of each of a number of debts or claims as where a fund or estate is insufficient for repayment of all in full."
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"Habitation, or place of residence; the place where a person ordinarily lives and sleeps at night."
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"To repeal, annul or set aside."
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An owner or sub-lessor who does not reside in the place or area in which he / she owns real estate from which he / she derives rental income.
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Full and complete ownership; a vested right of property which is liable to be determined only by the failure of appropriate successors in title.
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See Net Absorption.
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A summary of the auction advertisements which appears in the property page of a newspaper.
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"A chronological summary of conveyances, mortgage or leases and other deeds giving the names of the parties and the description of the land, arranged to show the continuity of ownership of general law land not under the Torrens system."
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To touch or border or sharing a common boundary with another property.

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