Online properties for sale - glossary of terms - "L"
Use the index links below to find the term you wish to look up.
Land Registry
A Government body that retains records of who owns land and it was set up to make the sale & purchase of land much more simple.
Not all land in England and Wales is registered.
Leasehold
Temporary permission given by the owner (the person who owns the freehold) to a tenant to use a property. When the lease expires ownership of the property goes back to the person who owns the freehold.
Legal Fee
This should be a fixed cost that covers your solicitor’s time dealing with your conveyancing.
Local Authority Search
This is a list of questions about the property, which are sent to the local authority by your solicitor. It deals with things such as, whether the road serving the property should be maintained by the council, whether there have been any planning applications on the property, whether there are any tree presevation orders etc.
It will NOT cover the surrounding area including any Planning Permissions or other matters affecting land or buildings outside the property in question.
