Conveyancing Terms Explained – A Guide for Homebuyers & Sellers

Understanding the terminology used during a property transaction can make the conveyancing process clearer and far less stressful. Whether you're buying, selling, or remortgaging a property, you’ll encounter a range of legal, financial, and procedural terms that are essential to the process.

This guide explains the most common conveyancing terms in clear, simple language to help clients feel informed and confident throughout their transaction.

Conveyancing

The legal process of transferring property ownership from the seller to the buyer.

Memorandum of Sale

A document issued once an offer is accepted, confirming details of the buyer, seller, property, and estate agents.

Title Deeds

Official documents proving ownership of a property.

Freehold

Ownership of the property and the land it stands on.

Leasehold

Ownership of the property for a set term, but not the land.

Conveyancing Searches

Legal checks carried out by the buyer’s solicitor to identify issues affecting the property, including:
 

• Local Authority Search
• Drainage & Water Search
• Environmental Search
• Coal/Mining Searches
• Planning & Development Searches

Enquiries

Questions raised by the buyer’s solicitor to clarify anything unclear from the contract, searches, or seller’s forms.

Fixtures & Fittings Form (TA10)

Completed by the seller to confirm which items are included in the sale.

Property Information Form (TA6)

A detailed seller questionnaire covering boundaries, disputes, utilities, alterations, and guarantees.

Mortgage Offer

A formal written offer from a lender confirming mortgage approval.

Exchange of Contracts

The point at which the transaction becomes legally binding.

Deposit

Typically 10%, paid by the buyer on exchange.

Completion

The day ownership transfers and the buyer receives the keys.

Transfer Deed (TR1)

A legal document transferring ownership, lodged with HM Land Registry.

Land Registry Fee

A fee paid to register the new owner and mortgage.

Stamp Duty Land Tax (SDLT)

Tax paid by buyers on eligible property purchases.

Redemption Statement

Issued by the seller’s lender, confirming the outstanding mortgage balance.

Certificate of Title

Provided by the buyer’s solicitor to the lender confirming the property is legally sound.

Indemnity Insurance

A one-off policy covering legal defects such as:

• Missing Building Regulations
• Restrictive Covenants
• Absence of Easements
• Chancel Liability
• Search Delays
• Lack of Planning Permission

Chain

Linked property transactions where each sale depends on another.

Gazumping

A seller accepting a higher offer after already accepting another.

Gazundering

A buyer lowering their offer just before exchange.

Why Understanding Conveyancing Terms Matters

A clear understanding helps reduce stress, avoid delays, and support informed decision-making.

Support From Legal Brokers Ltd

Legal Brokers Ltd provides:

• Conveyancing search services
• Legal indemnity insurance
• Panel management
• Sales progression support
• Legal recruitment

Legal Brokers Ltd

Conveyancing Glossary