11/09/2026
Let’s bust the jargon! 💥📖
🔤🏡 PROPERTY JARGON BUSTER – THIS WEEK: C!
Buying or selling a property comes with its own language! So each week we’re breaking down a few of those terms and making them a little easier to understand.
Let’s bust the jargon! 💥📖
🏡CAC (Complaints Assessment Committee)
The CACs are preliminary panels, each made up of three people, including a lawyer and two other members with a background in real estate or consumer affairs. CACs determine complaints about real estate agents. Determinations and orders are made under the Real Estate Agents Act 2008. CACs can also file disciplinary charges in the Real Estate Disciplinary Tribunal.
🏡Caveat
A notice on a title that a third party might have some interest or right in the property.
🏡CCC (code compliance certificate)
A code compliance certificate is a formal statement issued under section 95 of the Building Act 2004, that building work carried out under a building consent complies with that building consent.
🏡Certificate of title (Title)
The Title is a legal document that identifies the owners of the property and key facts about the property.
🏡Chattels
Chattels are moveable and removable items of personal property. In real estate transactions, chattels included in the sale include items like the stove, television aerial, carpets, blinds, curtains, drapes and light fittings. Only the chattels listed in a sale and purchase agreement are included in a property sale.
🏡Commission
Real estate agents are usually paid a commission by the seller when a property sells. The commission is the agent's fee for selling the property, and it is detailed in the agency agreement the seller signs with the agent. Commission rates vary and can be negotiated.
🏡Common property
The area of building, land or amenities within a unit title property that is shared by all owners, for example, a shared driveway.
🏡Company title
A type of ownership more common when properties are grouped together. An owner automatically becomes an owner of a company that administers, manages and maintains the property in which the owner’s unit is registered. The directors of that company are elected each year at the annual general meeting (AGM) by owners involved with that company.
🏡Conditional offer
An offer to buy a property subject to stated conditions being met.
🏡Conjunctional agreement
A conjunctional agreement allows an agent from an agency that is not the listing agency to do real estate agency work on behalf of the seller. The most common arrangement is when an agent introduces a buyer to the listing agent, and both agents receive a share of the commission.
🏡Continuing professional development
Verifiable and non-verifiable education which all licensees must complete each year by 31 December.
🏡Covenant
Any terms, conditions and restrictions regarding the use of the property that are noted on the Title. A covenant may affect future plans or resale for the property.
🏡Cross lease
This type of ownership is common where there is more than one home on a block of land. All owners own the land, and each leases their home from the owner group. The lease will usually provide for an exclusive use area for each cross-lessee. A cross lease is similar to owning a freehold property, but there are restrictions.
Any questions, give me a call Katrina 027 343 5561