Glossary / Abbreviations

To help you understand the some of the terminology and 'jargon' that may be used when purchasing a property, we have complied this listing.

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z  

t'out - throughout

tce - terrace

Tenancy - The legal right to occupy a property under contractually agreed terms and conditions.

Tenants in Common - A style of joint tenancy in which a property where two or more entities own a property in unequal shared amounts.

tf - timber frame

Title Search - The checking of the title records to ensure that the vendor is the legal owner of the property and that there are no other claims outstanding on the proeprty.

tld rf - tiled roof

tmbr - timber

Torrens Title - A system of formally recording the property ownership where registration on the Certificate of Title guarantees ownership.

Townhouse - A property usually two or more floors and attached to other similar units via common walls.

Trailing Commission - is the fee paid each year to the intermediary who sold you a managed fund, for as long as you remain with that fund

Transfer - A legal document that is registered with the Land Titles Office and is noted on the Certificate of Title that verifies the changes of ownership of a property.

Trust Deed - is the document setting out the rules and responsibilities of the cast of characters in a unit trust. It will probably be in legal jargon, have many pages, and be difficult to get hold of. However, it's not a bad idea to get a copy to thumb through it at your leisure. You can never have too much information.

Trustee - is an organisation engaged to ensure that the management of an investment is carrying out their investment decisions based on a previously agreed set of rules. For example, the trust deed of a local share unit trust may state that the manager can only invest in New Zealand shares. You, as a unit holder, can read the trust deed and make an investment safe in the knowledge that the trust will only invest in New Zealand shares, precisely because the trustee will review the investments to ensure that this is the case.