the meaning of words

Some of the words used in legal documents can be a bit baffling, This is what things mean.

Assignment

The transfer of a property from one person to another.

Completion Date

The date a property transfers to the person buying it.

Counterpart Lease

A copy of the lease.

Covenants

Legally binding obligations and responsibilities.

Freeholder

North Lincolnshire Homes which owns the land that your home is on.

Landlord/Lessor

North Lincolnshire Homes which owns the block your home belongs to.

Lease

This is the legal document which creates the leasehold and it contains all the rights and responsibilities of the landlord and the leaseholder. It’s a contract between you and us.

Leaseholder or Lessee

The person who’s name is on the lease agreement.

Page last updated: Wednesday, July 17, 2013

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