A restriction contained in a legal document which limits the rights of a person having an interest in the land but, by its wording, envisages the possibility of removing the limitation on terms agreed between the parties, eg a covenant by a lessee not to assign or sublet without the landlord's written consent, In certain cases, such as the one quoted, statute law strengthens the applicant's position by importing such words as "such consent not to be unreasonably withheld". Cf ABSOLUTE COVENANT.

In registered land, a title subject to some qualification or exception stated in the register, eg a property held subject to some right or interest arising before a specified date.

1. One with an appropriate academic or professional qualification and suitable experience in valuing land or chattels.

2. For the purpose of asset valuations, "a Corporate Member of the Royal Institution of Chartered Surveyors, or the Incorporated Society of Valuers and Auctioneers, or the Rating and Valuation Association, with appropriate post-qualification experience and with knowledge of valuing land in the location and of the category of the asset" (RICS Guidance Notes on the Valuation of Assets). A somewhat lengthier definition is to be found in Regulation 37 of the Insurance Companies Regulations 1981 (SI 1981, No 1654).

In a valuation of a relatively large property when appropriate in market terms, an end deduction from the rental or capital value, which has been calculated by reference to comparable smaller properties; its purpose is to reflect the greater size of the subject of the valuation. Cf END ALLOWANCE.

As much as it is worth: an expression used especially in relation to fees for services (in the absence of any other arrangement), based upon the time involved and the quality of the services provided.

91 days as distinct from three months.

English
Lady Day - March 25
Midsummer - June 24
Michaelmas - September 29
Christmas Day - December 25

Scottish
Candlemas - February 2
Whitsunday - May 15
Lammas - August 1
Martinmas - November 11

A right or privilege enjoyed by the owner of land over adjoining land he also owns and which, if the latter were in separate ownership, would be an easement. On conveyance of the "dominant" land to another party, the quasi-easement will normally become a true easement unless the conveyance provides otherwise. See DOMINANT TENEMENT; SERVIENT TENEMENT.

The division of the High Court whose principal function is to hear civil actions in contract or tort but which also hears appeals from magistrates' courts and from a number of tribunals and supervises all the inferior courts.

Any place provided by the Crown or appointed by the Commissioners of Customs and Excise for the deposit of goods for security thereof and for the duties chargeable thereon. See WAREHOUSE.

Whatever is attached to the soil becomes part of the soil. A legal rule underlying the principle that fixtures attached to the land belong to the freehold owner of the land.

The express or implied right of a tenant to be given possession of the entire property and his entitlement to recover damages if there is substantial physical interference by acts of the lessor or someone claiming under the lessor.

Intervals of five years; commonly used for the periodic inspection of heritage and other property and, in principle, for rating revaluation.

A form of conveyance whereby the grantor conveys to the grantee without warrangy of title whatever interest he posses in the property.

A rent payable by the free-holder of a manor to the lord, by which he was released ("quit") from having to perform such services as ploughing the lord's demesne land or attending him in time of war. Quit rents were abolished on January 1 1936.

A public limited company, the shares of which are listed on a recognised stock exchange. Cf PRIVATE COMPANY. See LISTING 2.