Glossary | ||
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DATE OF SETTLEMENT | |
| Date of Settlement: In relation to real estate transactions, it is the day on which the contract requires the seller (vendor) to transfer his or her interest in the property to the buyer (purchaser). Whilst most sales proceed on the settlement date, there can be settlements earlier or later than the date by agreement. | |
DATUM | |
| Datum means a previously defined and safe horizontal or vertical starting point that a land surveyor can use to re-instate or define title boundaries. | |
DEEDS OFFICE | |
| Deeds Office is the registry of deeds and associated general law documents indexed, deposited or registered under the custodianship of the Recorder of Titles. The Registry is open to the public for land information searching purposes- SIMPLY: It is the office where ‘Conveyances’ are registered and kept. HOW WE ASSIST: We can search the ‘Deeds Office’ and give you advice on your General Law Deeds (Conveyances). | |
DEPOSIT | |
| Deposit: The amount of money placed in trust, and usually held by the estate agent, as evidence of good faith for the performance of a real estate transaction. | |
DEPRECIATION SURVEY | |
| Depreciation Survey: relates to a report undertaken to assess the value of chattels and fixtures for rental properties at a certain date for taxation purposes. Contact us for advice in relation to these matters. | |
DEPRECIATION | |
| Depreciation: A measure of how much an asset declines in value. The decline may be caused by wasting away (a machine wearing out, a house deteriorating) or by obsolescence (overcome by new fashions or more efficient alternatives). | |
DEVELOPMENT APPLICATION | |
| Development Application means the process that must be gone through to obtain approval from the Local Council to undertake improvements, development or land use changes in accordance with the Planning Scheme. Councils charge Fees for this assessment, usually based on the number of parcels involved. SIMPLY: It is the application made to a local Council to subdivide, build or develop ones entitlement. HOW WE ASSIST: We have local knowledge of all Planning Schemes and Council requirements to further any Development Application. Contact us for advice in relation to these matters. | |
DISCLAIMERS (SURVEY) | |
| Disclaimers These originated from the insurance field. They are utilised by the Survey & Engineering Professions to indicate to clients the extent of responsibility accepted and to ensure the client is aware of what is not included in the survey. DISCLAIMER Contour and Detail Plans. The title boundaries as shown hereon were not marked at the time of survey and have been determined by plan dimensions only and not by field survey. Services shown hereon have been located where possible by field survey. If not able to be so located services have been plotted from the records of relevant authorities where available and have been noted accordingly on this plan. Where such records either do not exist or are inadequate a notation has been made hereon. Prior to any demolition, excavation or construction on the site, the relevant authority should be contacted for possible location of further nderground services and detailed locations of all services. DISCLAIMER Engineering Set Out - Buildings (1) Set out dimensions are based on design drawings supplied to the Surveyor at the time of and for the purpose of carrying out the survey. The builder should verify all set out dimensions shown on this plan with the latest approved design drawings. Any discrepancies should be clarified in writing with the surveyor prior to commencement of the work for confirmation of this survey. The boundary location as shown on this plan is from information or marks placed by others, the verification of which does not form part of this survey. DISCLAIMER Engineering Set Out - Buildings (2) Set out dimensions are based on design drawings supplied to the surveyor at the time or and for the purpose of carrying out the survey. The builder should verify all set out dimensions shown on this plan with the latest approved design drawings. Any discrepancies should be clarified in writing with the surveyor prior to commencement of the work for confirmation of this survey. DISCLAIMER Engineering Set Out - General Set out dimensions of all grid lines, control lines, recovery marks and bench marks should be verified and confirmed by the builder and any discrepancies should be clarified in writing with the surveyor prior to commencement of the work. DISCLAIMER Identification Surveys This plan is of an identification survey only, and as such is not examined for registration by the office of the Registrar of Titles, although it is lodged in that office for survey information only in accordance with the Surveyors Regulations 1978. No responsibility can therefore be accepted for any future difference in boundary definition which may result from re-survey of adjoining lands or subsequent registration of new survey plans. Building Setouts Those instructing Building Setouts can expect to be asked to endorse a certificate such as: INTERPRETATION OF ARCHITECTURAL PLANS FALLS OUTSIDE A SURVEYORS AREA OF EXPERTISE. IT IS ASSUMED THAT OFFSETS OR OTHER SETOUT DIMENSIONS THAT ARE CONSIDERED CRITICAL TO THE INTENDED LOCATION OF THIS STRUCTURE HAVE BEEN PROVIDED AND AS SUCH ARE SHOWN ON THIS PLAN. IT IS THE INSTRUCTORS RESPONSIBILITY TO CHECK THOSE DIMENSIONS SHOWN ON THIS PLAN. I ...................................CONFIRM I HAVE CHECKED THE DIMENSIONS SHOWN ON THIS PLAN. SIGNED:.................................................. DATE:................. Proposal Plans: (i) This plan was prepared for the purpose and exclusive use of xxxxxxxxxxx to accompany an application to the xxxxxxxxx for approval to subdivide the land described in the plan and is not to be used for any other purpose or by any other person or corporation. Cromer & Partners accepts no responsibility for any loss or damage suffered howsoever arising to any person or corporation who may use or rely on this plan in contravention of the terms of this clause. (ii) The contours shown on this plan are taken from Council Planning Scheme Sheet xxxxx and are suitable only for the purposes of this application. No reliance should be placed upon such contours other than for the purpose of this application for subdivisional approval. (iii) Measurements and areas are subject to final survey. (iv) This plan may not be copied unless this note is included. SIMPLY: Clients should discuss with their surveyor their requirements and ensure that the resultant survey satisfies their needs. HOW WE ASSIST: We can discuss with you the content of any proposed disclaimer to ensure that you are being provided with the correct information produced by the correct adviser. Contact us for advice in relation to these matters. | |
DISPERSMENT | |
| Disbursements: Money paid out. Expenditures such as advertising expenses, rates and taxes, insurance, or the like, paid by an agent or solicitor on behalf of an owner. | |
DOMINANT & SERVIENT TENEMENT | |
| Dominant Tenement See Easements You are the owner of a strip of land concerned that in legal terms is subject to a right of way. In technical legal terms, you are known as the owner of the servient tenement and your neighbour, who is the owner of the right of way, is known as the owner of the dominant tenement. Contact us for advice in relation to these matters. | |
DRAINAGE EASEMENT | |
| Right of Drainage means the right for a person authorised to do so to construct, maintain and repair sewers and drains over specified parts of another persons land for the removal of stormwater and other surplus water, but without doing unnecessary damage to the other persons land. SIMPLY: This means that you cannot restrict the right of someone to construct and maintain pipes over that portion of a title that is defined as 'Drainage Easement', nor can you build a structure over such area. HOW WE ASSIST : We can determine the location of such a Drainage Easement on the ground and on plan to allow the design and construction of structures that do not intrude on this right. Contact us for advice in relation to these matters. | |
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