Glossary

Property Law and Conveyancing Glossary

There are 9 entries in this glossary.
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Glossaries

Term Definition
Immovable Property

Land and everything that is permanently attached to it. Afrikaans - Onroerende Eiendom

Initiation Fee

A once-off fee charged by the bank to offset the cost of opening the mortgage account. Afrikaans - Aanvangsgelde

Insolvent

A person who is unable to meet his debts or discharge liabilities.

Installment

The regular monthly amount that a borrower agrees to pay on an outstanding debt to a lender. Afrikaans - Paaiement

Interest

The fee charged for borrowing money. Afrikaans - Belangstelling

Interest Bearing Account

When attorneys and/or realtors hold money for clients it is deposited into separate Interest Bearing Accounts until these monies and interest accrued during this time have to be paid out to whom they are owed. Afrikaans - Rentedraende Rekening

Interest Rates

The percentage of a loan that a financial institution charges which is payable monthly. Afrikaans - Rentekoerse

Intestate estate

This is an estate:

- Where the deceased died without leaving a will, or

- Where he/she did leave a will but this will was not accepted by the Master, or

 

- Where it was accepted by the Master but it failed for some for other reason.

Investor

A money source for a lender. Afrikaans - Beleggers

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