Glossary

Property Law and Conveyancing Glossary

There are 11 entries in this glossary.
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Glossaries

Term Definition
Fideicommissum

There are various kinds of fideicommissums, but basically it is a request by the testator to the heir or legatee (fiduciary) to carry over the whole or a portion of the bequest to the fideicommissary (further heir).

Finance

Money. Afrikaans - Finansies

Finance Charges

The interest charged on a loan. Afrikaans - Finansieringskoste 

First Mortgage

The primary lien against a property. Afrikaans - Eerste Verband

Fixed Installment

The fixed monthly payment (including interest) due on a mortgage loan. It remains constant for a certain period and goes hand-in-hand with Fixed Interest Rates. Afrikaans - Vastepaaiement

Fixed Interest Rate

The mortgage interest rate will remain the same for a specified term of the mortgage for the original borrower. Afrikaans - Vaste Rentekoers

Fixtures and Fittings

Attachments to a home which are deemed to permanently belong to it. If it is permanently attached nailed or screwed into the floor wall or ceiling it is a fixture. Afrikaans - Toebehore

Foreclosure

A legal process by which the lender or the seller forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. Also known as a repossession of property. Afrikaans - Eksekusie

Forfeiture of rights

This means that when it comes to the dissolving of the joint estate, the plaintiff is entitled to claim, over and above his or her half-share in the joint estate, anything which he or she may have contributed to that joint estate (Ogle v Ogle (1910) 31 NLR 87). The guilty spouse is not called upon to surrender his or her half-share in the joint estate (Celliers v Celliers 1904 TS 926) but only any financial benefit he or she may have derived from the fact that the innocent spouse contributed more than he or she did to the joint stock (Smith v Smith 1937 WLD 126). Thus, if an order for forfeiture is granted and the innocent spouse is found to have contributed less than the guilty spouse, the spouse would be entitled to his or her half-share (Van der Westhuizen v Seide 1957(4) SWA 360.

Freehold

A free-standing house on a plot of ground with its own Erf number. Afrikaans - Eiendomsreg

Full Title

Describes the transfer of full ownership rights to the buyer. Afrikaans - Volledige Titel

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