Glossary of terms
This glossary of terms has been composed by FIRST STRATA to provide you with an easily accessible and comprehensive description of the many terms frequently used in all aspects of land sales.
We trust you will find it both useful and informative.
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
Assumed to have a certain attribute or to have taken place (of a notional event) for a specific purpose, eg development by a local authority, when authorised by a government department, is “deemed” to have planning permission. See DEEMED PLANNING PERMISSION.
Usually for taxation purposes, an assumed sale and re-acquisition of property at a particular time. An example was for capital gains tax purposes where a property was owned before, and sold on or after, April 6 1965 and an election was made to use the open market value at that date instead of the time-apportionment method of computing the tax.
The treatment of an unlisted building as though it had been listed as of special architectural and historic interest, eg under section 54 (10) of the Town and Country Planning Act 1971, where the building had been subject to a building preservation order under Part II of the Town and Country Planning Act 1962, or under section 58(4) of the 1971 Act where a building is subject to a building preservation notice.
Under the Town and Country Planning Act, the situation in which planning permission is treated as having been granted without the need for the normal procedure. This applies in certain special cases, eg under section 40 of the 1971 Act, to development by local authorities and statutory undertakers may be deemed to have planning permission by direction of the government department whose authorisation of the development is required under statute. Cf GENERAL DEVELOPMENT ORDER; SIMPLIFIED PLANNING ZONE; SPECIAL DEVELOPMENT ORDER.
Under the Taxes Act 1988, on the grant of a lease of a term of 50 years or less, a sum (not actual money) which is treated as a premium for income taxation purposes, eg the increase in value of the landlord’s reversion immediately after the grant where the tenant has undertaken to carry out improvements to the property.
In fact; as a matter of fact. Eg a trespasser may be in occupation of land de facto but not de jure. Cf DE JURE.
The failure to do something required by law, eg a “judgment in default” in favour of one party, where the other fails to comply with the required legal procedure. For instance, one party may default by not attending a court hearing or not serving a particular notice or counternotice.
A notice which has to be served on a party in alleged breach of contract stating the nature of the breach and requiring its remedy as a prerequisite of instituting legal proceedings for breach of contract.
When an estate or interest in property may be brought to an end by the operation of a condition subsequent or a conditional limitation.
An agreed period following practical completion of a building, engineering or other constructional operation during which the contractor is obliged to remedy any defects appearing in the building caused by the failure of materials or workmanship to meet the requirements of the building contract. Amounts specified in the contract will be withheld until such time as defects are remedied. See BUILDING CONTRACT CERTIFICATES; RETAINED SUM.
A person against whom legal action is brought. In England called a defendant.
With a view to making a profit or receiving a profitable return, the funding of a project which has the inherent risk of the initial revenue being less than the total outgoings, including any interest or notional interest payable on money borrowed or otherwise procured.
Maps of public paths and bridleways prepared by county councils under the National Parks and Access to the Countryside Act 1949 after survey, consultation and representation procedures. Under the Countryside Act 1968, they are subject to periodic review and special reviews. They should also show roads used as public paths, such as ancient tracks, green lanes and unmetalled roads.
Outside of, eg dehors the contract means outside the scope of, or irrelevant to, the contract.
By right; as a matter of law. Cf DE FACTO.
In valuations to determine the price payable under section 9 of the Leasehold Reform Act 1967, an argument that a tenant anxious to enfranchise is more likely to increase his offer than is the landlord to reduce his quoted price in order to achieve a settlement. (From Delaforce v Evans (1970).)
A wilful wrong, ie a deliberate breach of a legal duty to another, other than a breach of contract or where there is strict liability. See TORT.
In respect of a deed this means an act so done as to indicate an intention to be bound. Thus a deed may be delivered although it is retained by one of the parties, by his solicitor or, less usually, by a third party. See ESCROW.
A term applied to some act causing damage or injury, the degree of which is such that its effect is regarded in law as negligible and so may be disregarded for the purposes of enforcement of law. (From de minimis non curat lex – the law does not concern itself with trifles.)
1. Strictly speaking, this is synonymous with a lease and means the grant of a right to the exclusive possession of property for a term of less than that held by the grantor.
2. Colloquially, used to signify the premises demised, ie the area of property the subject-matter of a lease (demised premises).
