|
A
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|
| Accessory
Parcels |
Lots which are
owned, used and transacted in conjunction with main parcels,
as provided for under the Strata Title Act 1985. Accessory
lots include, for example, car parking lots, billboard spaces
and etc. |
| Adverse
Possession |
Occupation of
Land by a person who has no lawful title to it, if unopposed
for a certain period, may extinguish the title of the true
owner. However, under the National Land Code 1965,
there can be no adverse possession against the State or a
registered proprietor. |
| Agent |
A
person entitled to act on behalf of another (known as the
"principal") |
| Alienation |
The
act by the State Authority which results in the disposal of
State land whether in perpetuity or for a term of years |
| Assignment |
Transfer
of an interest in property. |
| Auction |
A
public sale at which property is sold by, open bidding to
the highest bidder |
| Award |
Document
setting out the amount of compensation assessed by the Land
Administrator in compulsory acquisition cases |
|
B
|
|
| Boundary
mark |
Includes
any survey stone, iron pipe or spike, wooden peg or post,
concrete post or pillar or other mark used to mark boundaries. |
| Breach
of contract |
Failure
to fulfill contract, (by failure or refusal to perform defective
performance, or by self-induced incapacity to perform). |
| By-laws |
Regulations
which define the dos and don'ts applying to owners and occupants
of a strata title development |
|
C
|
|
| Case
law |
Principles
of law established by judicial decisions rather than by legislation |
| Categories
of land use |
Specified
categories of rise are provided for under the National
Land Code 1965 |
| Caveat |
a
legal notice lodged on the Register Document of Title to prevent
the registration of land title until the claim of the caveator
ha-, been determined. |
| Caveat
emptor |
Latin:
let him beware. |
| Certificate
or Title |
A
document of title issued by the Registry of I-and Titles before
1966 |
| Charge |
A
form of security for a loan under which certain property of
the debtor is identified as being charged with the debt (see
125-360). The
debtor retains ownership of the property, but the creditor
(chargee) has the fight to sell it if the debt is not discharged.
Charges must be registered. |
| Co-proprietorship |
Simultaneous
ownership of property by two or more persons, characterised
by unity of possession, i.e. the entitlement of each co-owner
to possession of the whole property but not any part of it
exclusively. See
also "Joint tenancy"; 'Tenancy-in-common". |
| Commission |
A
sum or percentage of selling price or monthly rental paid
to an agent for s tendered. |
| Common
law |
Law
evolved through judicial decisions and practice, as distinct
from law laid down by statute. |
| Common
property |
The
remaining portions of a sub-divided strata title property,
which are jointly owned by the subsidiary proprietors, e.g.
recreational facilities, landscaped gardens, external walls,
etc. |
| Comparative
Method |
A
valuation method based on sales/rental data for similar or
comparable properties |
| Completion |
The
conveyance of title by the vendor to the purchaser |
| Completion
Statement |
Sets
out the balance of the purchase price payable by the buyer
on completion. The Completion Statement is usually prepared
by the vendor’s solicitor. |
| Conditional
sale contract |
For example, a
contract for the sale of property, conditional on the purchaser
obtaining approval from the relevant authorities if he is
a foreigner if the condition is not fulfilled, the contract
becomes void |
| Conservation |
The
Antiquities Act 1976
offers protection to items, objects and property of historic
value |
| Consideration |
A
thing of value in the eyes of the law (i.e. something entailing
detriment to the party who gives it, or benefit to the recipient)
given in return for something else. Consideration in return
for a promise renders the promise contractually binding |
| Contract |
An
agreement enforceable at law, requiring full legal capacity
on the part of the parties, contractual intention, agreement
on all material items and the absence of various vitiating
circumstances |
| Contractor's
Method |
A
valuation method used for school, hospital and library based
on replacement cost |
| Conveyance |
The
formal transfer of property; also, the instrument by means
of which such a transfer is affected |
| Conveyancing |
The
branch of legal practice concerned with the transfer of real
estate |
| Corporeal
hereditaments |
Property
having a physical or tangible form, i.e. land or goods.
Contrast with "Incorporeal hereditaments |
| Customary
land |
Is
subject to limitations on ownership by non-Malays |
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