# Real Estate Lexicon

Standard English terminology for real estate agreements: leases (commercial and residential), purchase agreements, property transfers, easements, title, zoning, construction permits, property management, and related instruments.

## Core Real Estate Terms

| Correct English term | Usage / meaning | Avoid |
|---|---|---|
| lease / lease agreement | Contract granting the right to use property for a specified term in exchange for payment. | letting (British residential only) |
| commercial lease | Lease of business premises (offices, retail, industrial). | — |
| residential lease | Lease of a residential dwelling (apartment, house). | — |
| short-term lease | Temporary lease for a limited period (often seasonal or under 12 months). | — |
| tenancy agreement | Synonym for lease; commonly used in UK residential context. | — |
| property purchase agreement / sale and purchase agreement | Contract for the sale and purchase of real property. | property contract (too vague) |
| deed of sale / transfer deed | Legal document transferring ownership of property. | — |
| notarial deed / deed of conveyance | Deed prepared and witnessed by a notary; required in many civil law jurisdictions. | notarised document (less precise) |
| preliminary purchase agreement / preliminary contract | Binding agreement to enter into a final deed of sale at a future date. Distinguished from a non-binding "offer to purchase". | — |
| offer to purchase / letter of intent | Non-binding expression of intent to purchase property. | — |
| earnest money deposit / confirmation deposit | Initial payment by buyer showing commitment to purchase; may be forfeited or credited to purchase price. | — |
| penalty deposit / right of withdrawal deposit | Deposit allowing either party to withdraw from the agreement; different from earnest money. | — |
| deposit on account of the purchase price | Down payment credited to the final purchase price. | — |
| purchase price / sale price | Total agreed price for the property. | — |
| consideration | Legal term for value exchanged in a contract. | — |
| rent | Periodic payment for use of leased property. | rental (vague); letting (British residential context only) |
| monthly rent | Rent payable on a monthly basis. | — |
| service charges / common charges / common area maintenance | Charges for shared facilities and maintenance (buildings, utilities, cleaning). UK: "service charges"; US: "common area charges". | — |
| additional charges / ancillary costs | Costs beyond rent or purchase price (utilities, insurance, etc.). | — |
| security deposit | Cash held by landlord as security for tenant performance; typically returned at lease end. UK: "tenancy deposit" or "deposit". | damage deposit (less precise) |

## Property Terms

| Correct English term | Usage / meaning | Avoid |
|---|---|---|
| property / real property / immovable property | Permanent structures and land. UK: "property" or "land"; US: "real property". | real estate (less precise in legal context) |
| building | Structure with walls, roof, and permanent fixtures. | — |
| building unit / property unit | Individual unit in a multi-unit building (apartment, office). | — |
| apartment / flat | Residential unit in a multi-family building. UK: "flat"; US: "apartment". | — |
| commercial premises | Space used for business purposes (retail, office, restaurant). | — |
| office / office premises | Space used for professional or administrative work. | — |
| warehouse | Building used for storage. | — |
| land / plot of land | Unbuilt ground area. | — |
| building land / development land | Land suitable for construction. | — |
| plot / lot | Parcel of land defined by cadastral or survey records. | — |
| appurtenance | Property or right associated with and transferred with the main property (e.g., parking space with an apartment). | — |
| cellar / basement storage | Enclosed underground or semi-underground space for storage. | — |
| parking space / garage | Dedicated space for vehicle storage. | — |
| common areas / common parts | Shared spaces in multi-unit buildings (hallways, courtyards, parking). | — |
| condominium / co-ownership building | Multi-unit building where units are separately owned and common areas jointly owned. UK: "leasehold building"; US: "condominium". | — |
| building manager / property manager | Person responsible for managing a condominium or multi-unit property. | — |
| condominium regulations / house rules | Rules governing use of condominium and common areas. | — |
| apportionment tables | Schedule showing each unit's share of common areas and corresponding liability for common charges. | — |
| gross floor area | Total floor area including all spaces (living, circulation, storage). | — |
| net floor area / usable floor area | Floor area actually usable for occupation. | — |
| title / title ownership | Legal right to own and control property. | — |
| title deed | Document proving ownership of property. | — |
| title insurance | Insurance protecting owner against loss from title defects or claims. UK: title insurance is uncommon; US: commonly required. | — |
| land registry extract / registry certificate | Official document from land registry confirming property registration and ownership. | — |

## Lease-Specific Terms

| Correct English term | Usage / meaning | Avoid |
|---|---|---|
| landlord / lessor | Party that owns the property and grants the lease. | — |
| tenant / lessee | Party that leases the property. | — |
| sublease / subletting | Lease granted by the tenant to a third party, for part of the lease term. | — |
| lease term | Period during which the lease is in effect. | — |
| automatic renewal | Renewal of a lease on expiry unless notice to terminate is given. "Tacit renewal" is a common civil-law calque (It. *rinnovo tacito*, Fr. *tacite reconduction*, Sp. *prórroga tácita*); acceptable where deliberately retained to preserve a civil-law nuance, but default English-law idiom is "automatic renewal". See ndas-service-agreements.md. | tacit renewal (civil-law calque — use only where nuance is material) |
| notice of termination / notice to quit | Formal notice by tenant or landlord to end the lease. UK: "notice to quit" or "notice of termination". | — |
| early termination | Ending of lease before the agreed term expiration. | — |
| rent review / rent adjustment | Change in rent amount, often through indexation or renegotiation. | — |
| rent indexation | Adjustment of rent to reflect changes in a consumer price index. UK: "uprating"; US: "CPI adjustment". | — |
| routine maintenance / ordinary maintenance | Regular maintenance (cleaning, minor repairs, painting). | — |
| major repairs / structural repairs / extraordinary maintenance | Substantial repairs (roof, foundation, major systems). | — |
| permitted use / use covenant | Permitted use of the leased premises as specified in the lease. | — |
| change of use | Modification of the permitted use of the premises. | — |
| improvements | Additions or enhancements made by tenant that increase property value. | — |
| tenant's fixtures / additions | Items attached by tenant that become part of the property. | — |
| condition of the premises | Physical state of the property at lease commencement. | — |
| handover report / schedule of condition | Document recording the condition of premises at lease commencement. | — |
| return report | Document recording the condition of premises at lease termination. | — |
| break clause / break option | Clause permitting tenant or landlord to terminate lease early at specified date(s) on notice | Early termination clause (less standard in UK lease practice) |
| rent-free period | Period at lease commencement during which tenant pays no rent (lease incentive) | Free rent (informal) |
| dilapidations | Tenant's liability at lease end for breach of repair/reinstatement obligations; UK concept | Disrepair (less precise); End-of-lease damages (non-standard) |
| goodwill indemnity / key money | Payment by tenant for the right to occupy or assume an existing lease. | — |

## Transfer and Title Terms

| Correct English term | Usage / meaning | Avoid |
|---|---|---|
| ownership / title / right of ownership | Legal right to own and control property. | — |
| freehold / full ownership | Unrestricted ownership of land and buildings for indefinite duration. UK: "freehold"; US: "fee simple". | — |
| leasehold | Ownership of the right to occupy property for a fixed term; reversionary interest remains with freeholder. UK concept; for civil law long-term land leases, see "long lease / ground lease / emphyteusis" below. | — |
| bare ownership / naked ownership | Ownership of property without the right to use or enjoy it; usufructuary has right to use. Civil law concept. | — |
| usufruct / life interest | Right to use and enjoy property belonging to another, for a specified term or life. UK: "life interest"; US: rare. Civil law concept. | Right of enjoyment (less precise); Beneficial interest (different concept in trusts) |
| right of superficies / building right | Right to construct on or below another's land, retaining ownership of the structure. Civil law concept. | Building lease (different concept); Ground lease (US, related but distinct) |
| long lease / ground lease / emphyteusis | Long-term right to use and enjoy land (typically 50–99 years) in exchange for periodic ground rent (canon); civil law concept analogous to UK leasehold but with distinct characteristics | Land rental (too vague); Land lease (less precise) |
| easement / servitude | Right to use another's land for a specific purpose (access, utilities, passage, building a road). UK/US: "easement"; civil law: "servitude". | Right of use (too broad); Licence (revocable, unlike easement) |
| right of way | Easement allowing passage across another's land. | Access right (less precise); Right of passage (less standard) |
| right of light / right of view | Easement protecting the right to light or view from adjacent land. | — |
| covenant / restrictive covenant | Obligation or restriction on the use of land, binding successors in title. | — |
| mortgage / mortgaged property | Security interest granted to lender in property to secure a loan. | charge (less precise); lien (US) |
| voluntary mortgage | Mortgage granted by owner to lender as security. | — |
| judicial mortgage / charging order | Mortgage imposed by court order to secure a judgment debt. | court-ordered security (less precise) |
| mortgage registration / registration of charge | Recording of mortgage in land registry to protect lender's interest. | — |
| conveyancing | Legal process of transferring property ownership from seller to buyer, including searches, exchange, and completion | Property transfer (less precise) |
| completion (UK) / closing (US) | Final step in property transfer when deed and purchase price are exchanged | Settlement (less precise in this context) |
| exchange of contracts (UK) | Point at which buyer and seller exchange signed contracts, creating binding agreement before completion; UK-specific concept | Signing (less precise) |
| stamp duty / transfer tax | Tax payable on property transfer; UK: "stamp duty land tax (SDLT)"; varies by jurisdiction | Property tax (different — ongoing annual tax) |
| option to purchase | Contractual right to buy property at agreed price within specified period | Right to buy (UK statutory concept, different); Purchase option (acceptable) |
| option to lease | Contractual right to enter into lease at agreed terms within specified period | Lease option (acceptable but less formal) |
| mortgage discharge / release of mortgage | Cancellation of mortgage from land registry upon loan repayment. | mortgage cancellation (less precise) |
| registration / recording (in land registry) | Recording of title transfer or encumbrance in official land registry. UK: "registration"; US: "recording". | filing (less precise) |
| land registry / registration office | Official office maintaining records of real property ownership and encumbrances. UK: "Land Registry"; US: "county recorder". | property office (too vague) |
| occupancy certificate / habitability certificate | Official certification that property is safe and fit for occupancy. | fitness certificate (less precise) |
| urban planning certificate / zoning certificate | Certification of the property's compliance with zoning and planning regulations. | planning certificate (too vague) |
| cadastral compliance / cadastral match | Confirmation that property's physical boundaries match cadastral (land registry) records. | survey compliance (less precise) |
| planning compliance | Confirmation that property and structures comply with applicable planning and zoning laws. | building compliance (less precise) |
| energy performance certificate (EPC) | Certification of a building's energy efficiency and estimated energy consumption. EU/UK requirement. | energy certificate (too vague) |

## Planning and Construction Terms

| Correct English term | Usage / meaning | Avoid |
|---|---|---|
| building permit / planning permission | Official authorization to construct or modify a building. UK: "planning permission"; US: "building permit". | construction permit (less standard) |
| building licence / building approval | Official licence authorizing construction work. | construction licence (less precise) |
| building concession / development permission | Authorization to construct on public land. | — |
| certified notification / building notification | Simplified notification procedure for minor works not requiring a full permit. | — |
| commencement of works notification | Notice to authorities that construction is beginning. | — |
| master plan / local development plan / comprehensive plan | Long-term land use and development plan for a municipality or region. | urban plan (too vague) |
| zoning / planning designation | Classification of land for permitted uses (residential, commercial, industrial). | land classification (less precise) |
| residential zone | Area designated for residential use. | — |
| commercial zone | Area designated for business and commercial use. | — |
| industrial zone | Area designated for manufacturing and industrial use. | — |
| floor area ratio / building density index | Ratio of total usable floor area to land area; controls building density. | density ratio (too vague) |
| building volume | Total cubic volume of a building, often regulated. | — |
| development contributions / infrastructure charges / developer fees | Charges paid by developer for infrastructure (roads, utilities, schools) required for new development. | planning contributions (less precise) |

## Section Headings

| Correct English heading | Avoid |
|---|---|
| RECITALS / BACKGROUND | Preamble (less standard in leases) |
| DEMISED PREMISES / SUBJECT MATTER | Object of Lease (less precise) |
| TERM / DURATION | Period (too vague) |
| RENT AND CHARGES | Payment Terms (too vague) |
| USE OF THE PREMISES | Permitted Use (narrower) |
| MAINTENANCE AND REPAIRS | Upkeep (too vague) |
| INSURANCE | — |
| ASSIGNMENT AND SUBLETTING | Transfer and Subletting (less precise) |
| RETURN OF THE PREMISES | Handback (informal) |
| REGISTRATION | — |
| MISCELLANEOUS / GENERAL PROVISIONS | General Terms (less standard) |

## Miscellaneous / General Provisions

| Correct English term | Usage / meaning | Avoid |
|---|---|---|
| change of control | See canonical definition in finance-banking.md. Real-estate context: commercial leases may restrict assignment or treat change of control of a corporate tenant as a deemed assignment (requiring landlord consent). | — |

## Notes

- **Freehold vs leasehold**: These are UK concepts. In the US, fee simple ownership is most common, with leasehold rare. In civil law countries, the equivalent is full ownership, with usufruct and superficies as alternatives. Always identify the jurisdiction.

- **Title and title deeds**: Proof of ownership varies by jurisdiction. Some use Torrens systems (Australia, parts of US), others use registration of deeds (US counties), still others use land registry systems (UK, EU). Always specify how title is proven.

- **Earnest money vs. penalty deposit**: Many civil law jurisdictions distinguish between two types of pre-contractual deposit: (1) a confirmation deposit that serves as both commitment and liquidated damages if the buyer defaults, and (2) a penalty/withdrawal deposit that allows either party to withdraw by forfeiting or returning the deposit. These civil law concepts have no exact common-law equivalents. Use the English descriptions; sub-lexicons provide source-language mappings.

- **Conveyancing**: The process of transferring property ownership, involving legal, financial, and administrative steps. A "conveyancer" or "solicitor" handles this in UK practice; the role varies by jurisdiction.

- **Completion vs. closing**: UK uses "completion"; US and other jurisdictions use "closing". Both refer to the final step when money and deed are exchanged.

- **Exchange of contracts**: UK concept where buyer and seller exchange signed contracts, creating a binding agreement before final completion. Not standard in US or civil law jurisdictions.

- **Restrictive covenants**: UK concept restricting land use (e.g., "no commercial use on this land"). These run with the land and bind successors. Not standard terminology in US (restrictions common); absent in many civil law systems.

- **Usufruct and superficies**: Civil law concepts. Usufruct is the right to use and enjoy property; the bare owner retains title. Superficies is the right to build on another's land. Explain these on first mention.

- **Easements and servitudes**: The term "easement" is used in common law; "servitude" in civil law. Both refer to rights to use another's land (access, utilities, parking, light). Use "easement" as the default English term; sub-lexicons provide source-language mappings.

- **Zoning and land use**: Zoning laws regulate permitted uses and density. Many source languages use a single term for both land zoning (regulatory classification) and contractual permitted use of leased premises; context is critical to distinguish.

- **Cadastral references**: Property is identified by land registry or cadastral records, which vary by jurisdiction. Numerical identifiers (parcel, section, sub-unit numbers) should be retained as-is in translation; provide English labels but keep the original reference numbers.

- **Rent indexation**: Many jurisdictions use national consumer price indices to adjust lease payments annually. When translating, keep the national index acronym and explain on first use (e.g., "CPI" in UK, national statistics body index in other jurisdictions). Sub-lexicon provides source-language mappings.

- **Energy performance certificates**: EU-mandated certification of building energy efficiency. Terminology varies: EPC (Europe), EPB (Belgium), DPE (France), APE (Italy). Use "energy performance certificate (EPC)" as the standard English term.
