This week in the A – Z of Conveyancing, we’ll go through the commonly used terms in relation to conveyancing, looking at the letter Z.
Zoning
A classification imposed by the Council which outlines the permissible use of land, such as Residential, Business or Industrial. If you intend on purchasing or developing land, this is an important consideration as you must ensure your planned works or intended use of the land are compliant with any zoning restrictions in place.
Zoning Certificate
A Zoning Certificate (known as a 10.7 Certificate) is a Certificate issued by the Local Council which details the zoning in which your land is in and the permitted use and development of the land. Other matters affecting the land such as heritage items, road widening or environmental requirements will also be noted on the Certificate. This Certificate is required to be attached to a Contract for Sale prior to exchange of Contracts.
For more information on the A – Z of Conveyancing check out our other posts:
The Letter A: Adjustments, Amendments, Auctions
The Letter B: Breach, Broker, Building Contract, By-Laws
The Letter C: Caveat, Certificate of Title, Community Title, Contract for Sale, Cooling-off Period
The Letter D: Deposit, Deposit Bond, Deposited Plan, Disbursements, Discharge of Mortgage
The Letter E: Easement, Electronic Notice of Sale, Exchange, Exclusions
The Letter F: Final Inspection, Finance, Fittings & Fixtures
The Letter G: Grants, Guarantee/Guarantor, Goods & Services Tax
The Letter H: Holding Deposit, Home Loan
The Letter I: Inclusions, Inspection Reports, Insurance
The Letter J&K: Joint Tenants, Keys
The Letter L: Land Tax, Lease, Lenders Mortgage Insurance, LRV – Loan to Value Ratio
The Letter M: Mortgage, Mortgagor, Mortgagee.
The Letter N: Negotiations, Notice of Rescission, Notice to Complete
The Letter O: Occupation Certificate, Off the Plan, Open House, Owners Corporation
The Letter P: Penalty Interest, PEXA, Principal place of residence, Proprietor
The Letter Q & R: Quiet enjoyment, Registration, Requisitions on Title, Rescission, Reserve price
The Letter S: Sales Advice, Settlement, Special Conditions, Stamp Duty, Sunset Date
The Letter T: Tenancy Agreement, Tenants in Common, Title Reference, Transfer
The Letter U: Unconditional, Under Offer
The Letter V: Vacant possession, Valuation, Variation, Vendor, Verification of identity
The Letter W: Withdrawal of Caveat, 66W Certificate, Waterfront Licence
