A to Z of land and buildings terminology

Copyright © 2025 LexisNexis
Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance

A to Z of land and buildings terminology

Copyright © 2025 LexisNexis
Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
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The following list, while not exhaustive, provides an overview of the meanings of commonly used terms that a business and / or its adviser may encounter when dealing with a land and property transaction:

TermDefinition
Alienation clauseClause restricting the tenant’s right to assign a lease or sublet a property
Beneficial occupationThe occupation of land to the benefit or advantage of the occupier
Beneficial ownerA party that has title to the land for their own benefit
Charge certificateThis is the certificate issued by the Land Registry to the mortgage lender showing the charge on the Land Registry
ChargeThis is an interest in land which secures payment of a debt
ChattelsMoveable personal property
CompletionThis is the final step which leads to the transfer of ownership of a property. The purchaser receives the title documentation in exchange for payment of the purchase price
Completion moniesThis is the sum payable to the vendor to complete the purchase of the property
Completion

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  • 14 Mar 2023 16:52

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