Australian Real Estate Terms

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Buying, selling or renting property in Australia and having trouble understanding what they're saying? To help you figure it out, we've created brief explanations of the words used. For more complete information, see your local real estate agent, financial advisor or solicitor.

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

E
easement	A right that someone has to use the land belonging to another. An example is a sewerage easement by the water authority across part of a property.
encroachment	Part of a house or establishment illegally overhanging the street or a neighbour's property.
encumbrance	An outstanding liability or charge on a property.
equity	The amount of an asset actually owned. Equity is the difference between the market value of a property and the amount still owed on its mortgage.
establishment fee	Lending body fees which may or may not be charged to set up a loan.
estate	The total of all the real estate and personal property owned by an individual at the time of death.
eviction	The lawful expulsion of an occupant or tenant from real property.
exchange of contract	The legal time when the seller and purchaser swap documentation and start inquiries to settlement.
exclusive authority	A written contract that gives one real estate agent the exclusive right to sell a property in a specified time period.

Note: We assume no liability resulting from any errors or omissions. Translation . . . we've done our best to bring you accurate information. However, you should seek your own independent advice as to the accuracy of the information supplied.

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