Welcome to our property glossary! This guide offers clear definitions and detailed explanations of essential terms, helping you navigate the complexities of buying, selling, or investing in property with confidence.
- Buy to Let – The purchase of a property specifically to rent it out to tenants.
- Buy to Let Mortgage – A type of mortgage specifically designed for those who buy property to rent out.
- Council Tenant – A tenant who rents their home from the local council.
- Joint Tenant – An arrangement where two or more people jointly hold equal ownership of a property, with survivorship rights.
- Landlord – An individual or entity that owns and rents out property to tenants.
- Life Tenant – An individual who has the right to use and benefit from a property for the duration of their life.
- Property Management – The operation, control, and oversight of real estate by a third party on behalf of the owner.
- Real Estate Agent – A professional who facilitates the buying, selling, and renting of properties.
- Sitting Tenant – A tenant who is legally occupying a property and has certain protections, making it difficult for a new owner to evict them.
- Tenant – An individual who rents and occupies a property.
- Tenants in Common – A form of joint ownership of property where each tenant owns a specific share and can pass on their share to beneficiaries.
Thank you for exploring our property glossary. We hope this resource has enriched your understanding of real estate concepts. We are continuously expanding our property glossary to include more terms and concepts. Keep an eye out for updates as we strive to provide you with a comprehensive resource for all your real estate knowledge needs.
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