indenture

A deed or other document to which two or more parties are bound.

habitable

Suitable and fit for a person to live in and free of any faults that might endanger the health and safety of occupants.

freehold

Outright ownership of a property. This type of tenure contrasts with leasehold where the leaseholder has the rights to occupy a property for a specified period of time.

fixture

A permanently fixed piece of furniture or equipment incorporated into a property. Removing it would cause damage to buildings or land, and is therefore regarded as legally part of it.

exchange

The exchange of agreed, signed contracts. The transaction between the seller and the buyer is then legally binding, and completion (including the final transfer of money) usually takes place two to four weeks later.

eviction

The dispossession of a tenant of leased property by force or through the legal process.

equity

The monetary value of a property after any claims, such as a mortgage, are taken away.

encroachment

When a building or some portion of it, or a wall or fence, extends beyond the land of the owner and illegally intrudes upon that of an adjoining owner.