Property Law and Conveyancing Glossary
|(Special) power of attorney to transfer||
A written power of attorney granted by the owner of the land in his personal capacity as transferor, to a conveyancer to perform on behalf of the transferor all acts necessary to effect transfer of the land described in the power of attorney to the acquirer, the transferee. The conveyancer is also specifically authorized to execute the deed of transfer on behalf of the transferor, before the registrar of deeds.
|Acceptance of a composition|
Legislation passed by the government.
Acceptance of benefits
An analysis of a buyers income liabilities and available funds in order to determine their ability to afford the purchase of a property.
Person acting on behalf of another, usually in terms of a power of attorney
|Agreement of Sale||
Also referred to as the Offer to Purchase. It is a legally binding document signed by the buyer and seller whereby the buyer agrees to buy a property from the seller who agrees to sell the property to the buyer for a proposed purchase price and conditions on which the sale will take place.
An agreement entered into by parties prior to getting married they will then be married out of community of property.
An estimate of the value of property made by a qualified professional called an 'appraiser' or 'valuator'.
Procedure whereby parties to a dispute appoint an arbitrator whose decision is final and binding to settle the dispute.