029 2047 5100

Glossary of Terms

Although conveyancing is an exciting time, it can also be a complicated process. You’ll find below explanations of many of the recurring terms used in conveyancing.

Additional Enquiries – questions the buyer’s lawyer sends to the seller’s lawyer to find out more information about the property.

Completion Date – the date on which the seller moves out and the buyers moves in.

Contract – the legal document signed by each party to commit them to the sale/purchase.

Conveyancing – the area of law relating to the preparation of documents for the transfer of property.

Deposit – usually 10% of the purchase price paid on exchange of contract by the buyer to the seller via their lawyers.

Exchange of contracts – lawyers for all parties exchange contracts which makes the sale/purchase legally binding on all parties and sets the completion date.

Title – the legal ownership of a property.

Title deeds – the documents proving legal ownership of a property.

Redemption statement – a statement balance from your lender (if you have a mortgage) to show how much is owing of the mortgage.

Replies to Additional Enquiries – replies provided by the seller to the additional enquiries asked by the buyer.

 

Contact a specialist today

Charline
Christie Evans
E-mail: cevans@martynprowel.co.uk
Direct Line Telephone No. : 029 2047 5143
Following the completion of her studies in Law at Swansea University Christie has moved towards specialising in residential conveyancing.
Find out more about Christie Evans

Why our clients like dealing with us

"I was prepared to give up but you were not. Thank you"
Mrs C of Llandaff
"Everything was dealt with instantly. This was a good friendly service, I'd certainly recommend you to someone in need."
Mr and Mrs L of Penarth
"The advice I received was clear, concise, and delivered without delay. You helped me out of a difficult situation, thank you."
Mr R of Aberdare
"You kept me informed on how my case was going and I would definitely recommend you to anyone. Please keep up the good work."
Miss J of Roath
029 2047 5100
© Martyn Prowel Solicitors. All rights reserved.
Martyn Prowel Solicitors, The Aspect, 140 Queen Street, Cardiff, CF10 2GL
Martyn Prowel Facebook Martyn Prowel Google Plus Martyn Prowel Twitter Martyn Prowel Youtube Martyn Prowel Linkedin
Martyn Prowel Solicitors is a trading name of Martyn Prowel Limited, VAT Reg No: 667233619. Registered in England and Wales company number 04314424. Martyn Prowel Limited is authorised and regulated by the Solicitors Regulation Authority (SRA) (Organisation Number 596508). We use the word ‘partner’ to refer to a Director of the Limited Company, or an employee or consultant with equivalent standing and qualifications. A List of Directors of Martyn Prowel Limited is available for inspection at the Registered Office at Martyn Prowel Solicitors The Aspect 140 Queen Street Cardiff CF10 2GL SRA.ORG.UK Code of Conduct