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South African Real Estate

c

There are definitions relating to "c" awaiting approval...

callable debt - A debt security whose issuer has the right to redeem the security at a sp...

cancellation attorneys - The conveyancers attending to cancellation of the Seller's existing mortg...

canvassing - A procedure used by real estate agents to contact property owners and pot...

cap - For an adjustable-rate mortgage, a limitation on the amount the interest ...

cash-out - Money received when refinancing a property when the new loan is larger th...

cash-out refinance - A refinance transaction in which the borrower receives additional funds o...

catalog - A publication advertising and describing the property available for sale ...

caveat emptor - A Latin term meaning 'let the buyer beware'. A legal maxim stating that t...

certificate of deposit - A document issued by a bank or other financial institution that is eviden...

chain of title - The history of all of the documents that have transferred title to a parc...

charge-off - The portion of principal and interest due on a loan that is written off w...

clear title - Ownership that is free and clear of liens, defects, other legal encumbran...

clearance certificate - A certificate issued by the relevant authority (municipality, town counci...

client - The person who has given an agent a mandate to render a service for him/h...

close corporation - A business entity registered in terms of the Close Corporations Act 69 of...

co-borrower - Any borrower other than the first borrower whose name appears on the appl...

code of conduct - A set of ethical rules drawn up by the Estate Agency Affairs Board to reg...

collateral - An asset (such as a home, car, boat, etc.) that is pledged as security fo...

collection - The efforts a creditor or his agent takes to collect past due payments. ...

commercial property - A property used primarily for business or office purposes. ...

commission - The professional fee charged for services performed, usually based on a p...

commitment letter - A binding offer by a lender to loan money at a future date subject to the...

common law - The law which automatically applies, unless excluded or amended by legisl...

common property - Common property is a term that is used for all and any parts of a section...

common property - In a sectional title complex, common property is all the land in the comp...

common stock - A security that represents ownership in a company but gives no legal clai...

company - A business entity registered in terms of the Companies Act 61 of 1973. A ...

comparables - An abbreviation for comparable properties, which are used as a comparison...

conditions of sale by auction - The legal terms that govern the conduct of an auction, including acceptab...

conduct deserving of sanction - Unethical or improper conduct by an estate agent. The criteria for conduc...

conduct rules - Conduct rules, in a sectional title scheme, are the hands-on rules for th...

construction loan - A loan for financing the cost of construction or improvements to a proper...

contingency - A condition that must be met before a contract is legally binding. For ex...

contract - A legally enforceable agreement. In terms of the Alienation Of Land Act ...

contract of sale - A contract of sale is an agreement, in terms of immovable property, betwe...

contract of sale - A written agreement on the purchase price, terms and conditions of a sale...

conversion clause - An additional provision in some adjustable rate mortgages wherein the obl...

conversion option - A provision of some adjustable-rate mortgage loans that allows the borrow...

convertible adjustable-rate mortgage - An adjustable-rate mortgage that allows the borrower the option to conver...

conveyancer - A conveyancer is an attorney with the necessary qualifications to attend ...

conveyancer - An attorney who is qualified to attend to deeds office transactions such ...

conveyancing - The term 'conveyancing' describes the legal process whereby rights in imm...

cooling off right - Some buyers of immovable property have a cooling off right in terms of th...

credit bureau - An independent agency that gathers and maintains information on the debts...

credit enhancement - A method to reduce credit risk by requiring collateral, letters of credit...

credit history - A record of an individual's debts and repayment record. A credit history ...

credit life insurance - A type of insurance that pays off a specific amount of debt or a specifie...

credit loss ratio - The ratio of credit-related losses to the dollar amount of MBS outstandin...

credit report - A document provided by a credit reporting agency containing information a...

credit score - A numerical value that ranks a borrower's credit risk at a given point in...

credit scoring - A process that uses recorded information about individuals and their loan...

credit-related expenses - The sum of foreclosed property expenses plus the provision for losses. ...

credit-related losses - The sum of foreclosed property expenses plus charge-offs. ...

creditor - A person to whom money is owed. ...


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