Some terms used by the real estate industry in Australia to describe their world.
/yr = per annum
/hr = per hour
/mth = per month
/wk = per week
a/c = air-conditioning
abandon = a person who has lawful possession of the land relinquishes any future claim to the land
acceptance = an acceptance by PartyB of an offer by PartyA establishing in law a contract that will bind both Parties; See offer
alc. = alcove
auction = a public sales event conducted by an auctioneer in which offers are made by those buyers present or their agents or representatives (the bidders) and acceptance by the seller is immediate to the event usually to the highest bidder
auctioneer = an agent whose job it is to conduct a sale by auction usually for a fee
b.i. = built-in
b.i./c = built-in cupboard
b.i./cs = built-in cupboards
b.i./r = built-in robe
br = bedroom
b.t. = brick-tile
b.v. = brick-veneer
BCA = Building Code of Australia
body corporate = a controlling body under strata title agreements; See strata
builder's licence =
building approval =
building contract =
building lease = a lease of a parcel of land that requires, as a condition of the lease, the building of a dwelling or other property on the land
building regulations =
c/tl = cement tile
caveat = a notice attached to a folio of land expressing the interest of another party in any dealing in this parcel of land
charge over land = usually represented by a caveat expressing an encumbrance on the sale of land in order to secure repayment of a debt but does not give the creditor a right to possess the land in satisfaction of the debt
cmt = cement
cnr = corner
convey = transfer ownership of real property from one owner to another
conveyance = usually means the action of a lawyer to cause the conveyance (see convey) but could mean the instrument used
counter-offer = a conditional acceptance is not acceptance at all but a rejection of the offer and its replacement by a counter-offer
covenant to repair = a lease may contain a clause requiring the lessor to keep in good repair but, unless this clause exists, there is no requirement placed on the lessor to repair the premises, say, upon handover at the end of the lease
crm = cream
CRE = corporate real estate
crpt = carpet
cpd = cupboard
cpds = cupboards
d./br = double bedroom
DA = development application
dble = double
dble/fr = double-fronted
dble/gar. = double garage
demise = grant right for quiet enjoyment
dep. = deposit
det. = detached
devise = to give land to another in a will executed upon the death of the devisor
devisee = the person to whom land is devised in a will
devisor = the person devising land to another in his/her will
din./rm = dining room
e.l.f. = electrical light fittings
easement = a right of way by one party over another's property created by express agreement between the parties, by alienation of a parcel of land by PartyA to PartyB making easement for PartyB over PartyA's land necessary, or easement considered necessary for other purpose and represented by an instrument
el. = electrical
el./h.w.s. = electric hot water service
encl. = enclosed
ens. = en suite
estab. = established
exclusive possession = granted under lease; must exist for there to be a lease; exclusive right to control entry and the keys and right to quiet enjoyment
ext. = external
f/furn. = fully-furnished
f/tld = fully-tiled
fib. = fibro
fib./cmt = fibro-cement
first mortgage = See mortgage, first
fitts = fittings
fl. = floor
fl./covs = floor coverings
flr = floor
g./h.w.s. = gas hot water system
gar. = garage
grge = garage
h.w.s. = hot water system
htr = heater
incl. = include
in-gr. = in-ground
in-gr./pl = in-ground pool
int. = interest
intl = internal
joint ownership = See joint tenancy
joint tenancy = interest in land is joint and this interest cannot be devised in a will unless the joint tenant(s) predecease(s) the devisor
k'ette = kitchenette
kit. = kitchen
l.d.r. = lounge dining room
l.u.g. = lock up garage
l/fitt. = light fittings
landlord = lessor
lease = agreement between lessor and lessee allowing the leaseholding of property for a term in return for value transferred
lease agreement = usually the document describing the agreement between and signed by the lessor and the lessee
lease back agreement = usually a document describing the sale of the land by partyA (the previous owner) to partyB (the new owner) and the immediate entry by both parties into lease of the land by partyA (as lessor) from partyB (as lessee)
leasehold = holding of lessor's property by the lessee for a term
leaseholder = lessee
legal owner = person by whom legal title is held; See legal title; See registered proprietor
legal title = true owner as opposed to apparent owner or occupier; See registered proprietor
LEP = local environment plan
less than freehold = an interest in land that exists but is not freehold (usually leasehold)
lessee = a person to whom a property is leased, let, or demised
lessor = a person who leases, lets, or demises property
let = grant a lease
lex domicilii = the abiding law in the place of residence
lex loci rei sitae = there may be an overriding abiding law governing execution in the place in which the land is situated
lex situs = the abiding law in the place in which the land is situated
lge = large
licence to occupy = permit to occupy without lease under conditions outlined in the licence
license = to grant a licence
licensed valuer = an agent who has been granted a licence to value property in return for a fee
liv. = living
lnge = lounge
mais. = maisonette
mort. = mortgage
mortgage = the securing of the lender's interest in the land by an agreement detailing a charge on the property to secure the loan
mortgage, first = the first lender's interest usually takes priority over any subsequent loan that uses the same property as security
mortgage, second = the first lender's interest usually takes priority over any subsequent loan that uses the same property as security
mortgagee = the lender under the mortgage
mortgagee in possesion = the lender has entered the property and taken possession because of the failure of the mortgagor to satisfy under mortgage
mortgagor = the borrower under the mortgage
mstr = master
mtge = mortgage
o./htr = oil heater
o.f.p. = open fire place
o.n.o. = or near offer
o.s.p. = off street parking
o.y.o. = own your own
o/p h.w.s. = off peak hot water system
occupant = tenant in possession; occupier
occupier = in actual possession
occupier's liability = a special duty of care to those who enter the property, either lawfully or unlawfully; a trespasser may possess this duty of care
offer = an undertaking by PartyA that if PartyB accepts the offer as outlined then a contract exists between both parties that will bind both Parties; See acceptance
oil/htr = oil heater
p.a. = per annum
p.h. = per hour
p.m. = per month
p.w. = per week
p/hr = per hour
p/mth = per month
p/wk = per week
pol. flr = polished floor
posn = position
PPP = public-private partnership
qual. = quality
quiet enjoyment = a right under leasehold, not necessarily under licence
r.c. = reverse cycle
r.o.w. = right of way
rec. = recess
registered proprietor = legal owner under the Torrens system
rend. = rendered
rf = roof
rm = room
s/b = should be
s.b. = solid brick
s.s.s. = stainless steel sink
s.t.c.a. = subject to council approval
s/c = self-contained
s/out = sleep-out
second mortgage = See mortgage, second
semi. = semi-detached
semi-d. = semi-detached
sep. = separate
shr = shower
shwr/rcs = shower recess
sgle/fr. = single-fronted
spac. = spacious
squatter = in possession without consent; trespasser in possession
strata = a parcel of land is divided into units; may include common property
strata plan = a legal document describing the sub-division of a parcel of land into units and common property and signed off by the owners
strata title = that piece of the strata plan that I own; a form of ownership in common based on subdivision of land into units and common property
surrender of the lease = the tenant does something that implies the end of the lease
t. = toilet
t.f. = timber frame
t/c. = terracotta
t/c./tile = terracotta-tile
t/out = throughout
tenant = one who holds tenure; leasehold
tenant at will = either party may bring the tenure to an end at any time
tenant by sufferance = the tenant has possession of the land because of some original consent but is not in possession of a lease
tenant in possession = occupant
tenant for life = the tenant has possession of the land because of an estate granted by a will upon the death of the owner but this estate only lasts until the death of the tenant
tenure = land held by lease not ownership
term lease = the lease will continue for a fixed term and then automatically cease at the end of the term
tld/rf = tiled-roof
tmbr = timber
"TO LET!" = (industry common term) a label that declares an intention to let on the part of the owner; the property is available to be let under particular conditions
toil. = toilet
trespass = to enter without consent
trespass ab initio = to enter with consent but consent has been obtained for the purpose of or results in theft or other unlawful act
trespasser in possession = squatter
u.m.r. = under main roof
v.p. = vacant possession
ven/blds = Venetian blinds
ver. = veranda
w.i. = walk-in
w.i./pant = walk-in pantry
w.i./r = walk-in robe
w.t.w. = wall to wall
w/b = weatherboard
w/c = water-closet (toilet)
w/i = wrought-iron
y.o. = years old
zone = control domain within land development plan (such as a DA or an LEP)