Buying or selling a home comes with a pile of legal words that nobody bothers to explain. So here is our plain-English glossary of the conveyancing and property terms you will actually run into in Queensland. No jargon, no waffle, and where there is a deeper guide we have linked it.

A B C D E F G J L M O P R S T U V W Z

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A

Adjustments (settlement adjustments)

The balancing of rates, water and body corporate fees at settlement so the buyer and seller each only pay for the days they actually own the property.

AFAD (Additional Foreign Acquirer Duty)

An extra transfer duty surcharge (currently 8%) that foreign buyers pay on top of normal stamp duty when buying residential property in Queensland.

Auction

A public sale where the highest bid wins. In QLD there is no cooling-off period at auction and the contract is unconditional the moment the hammer falls, so sort your finance and inspections first.

B

Body corporate

The legal entity made up of all the owners in a unit or townhouse complex. It manages the shared areas and charges levies.

Building and pest inspection

A pre-purchase check of a property’s structure and for pests like termites. It is usually a contract condition that lets you walk away if something nasty turns up.

C

Caveat

A legal “hands off” notice lodged on a property’s title to protect someone’s interest in it. It can stop a sale settling until it is resolved. See encumbrances.

Chattels

Loose, removable items (think fridge, curtains, pot plants) as opposed to fixtures. The contract spells out exactly what stays and what goes.

Community titles scheme (CTS)

The framework that governs a unit, townhouse or apartment complex in QLD, including the body corporate and the shared (common) property.

Contract of sale

The legally binding agreement between buyer and seller. In QLD this is almost always the standard REIQ contract. More on the conveyancing process.

Conveyancer

The professional who handles the legal transfer of property. In QLD this is done by solicitors and experienced paralegals, not “licensed conveyancers” (which don’t exist here). What a conveyancer does.

Conveyancing

The legal process of transferring property ownership from one person to another, from contract through to settlement. Learn more.

Cooling-off period

A five-business-day window after signing a standard QLD contract where the buyer can pull out, though you forfeit 0.25% of the price. It does not apply at auction.

Covenant (restrictive covenant)

A rule on a property’s title that limits what you can do with the land, such as building height or materials. See encumbrances.

D

Deposit

The upfront money a buyer pays to show they are serious, usually 5-10% of the price, held in a trust account until settlement.

Disbursements (outlays)

The third-party costs your law firm pays on your behalf, such as council and title searches. Separate from professional fees. See the hidden costs of buying.

Discharge of mortgage

The process of removing the seller’s home loan from the title at settlement so the buyer takes clear ownership.

E

Easement

A right for someone else to use part of your land for a specific purpose, like a drainage pipe or shared driveway. See encumbrances.

Encroachment

When a structure such as a fence, shed or wall crosses over a boundary onto a neighbour’s land, or theirs onto yours.

Encumbrance

Any third-party right or restriction registered against a property’s title, such as a mortgage, easement, caveat or covenant. Full guide.

F

Finance clause (finance condition)

A contract condition giving the buyer a set time to get formal loan approval. If finance falls through within that time, you can usually terminate without penalty.

First Home Owner Grant (FHOG)

A one-off QLD Government payment for eligible first home buyers, generally for new or substantially renovated homes.

Fixtures

Items permanently attached to the property (built-in robes, the kitchen, the air-con) that stay with the home, unlike loose chattels.

Form 2 (Seller’s Disclosure Statement)

The disclosure document QLD sellers must give buyers before they sign, from 1 August 2025. Get it wrong and the buyer can terminate right up to settlement. Form 2 help.

G

Guarantor

Someone who promises to cover a loan if the borrower can’t. In QLD, guarantors must get independent legal advice before signing. Guarantor advice.

J

Joint tenants

A way two or more people co-own property where, if one owner dies, their share automatically passes to the surviving owner(s).

L

Land tax

An annual QLD state tax on the total value of land you own above a threshold. Your home is usually exempt; investment properties often are not.

Lot and plan (Real Property Description)

The official way a QLD property is identified on the title, by lot number and registered plan, rather than just by its street address.

M

Mortgage

A loan secured against a property. The lender registers an interest on the title until the loan is repaid.

O

Off-the-plan

Buying a property (often an apartment or house-and-land package) before it is built, based on the plans and specs. Carries unique risks like sunset clauses. Off-the-plan advice.

Outlays

Another word for disbursements: the search and government costs paid to third parties on your behalf. See hidden costs.

P

PEXA

The online platform used for electronic property settlements in Australia, where documents and money change hands digitally instead of in a room.

Pool safety certificate

A QLD compliance certificate confirming a pool meets safety standards. Sellers need to deal with this before or at settlement.

PPSR (Personal Property Securities Register)

A national register of security interests over personal property. A PPSR search checks whether items like chattels, or a company seller, have money owing against them.

Pre-contract advice (contract review)

Having a solicitor check a contract before you sign, to flag risky conditions and protect you. The cheapest insurance in property. For buyers.

Priority notice

A short-term notice lodged on a title to “freeze” it and protect a buyer or lender’s position in the lead-up to settlement.

Private treaty

The standard way of selling property by negotiation (not auction), which gives buyers a cooling-off period and the ability to add conditions.

R

Requisitions on title

Formal questions the buyer’s solicitor asks the seller about the property and title before settlement, to confirm everything is in order.

S

Searches

Enquiries made about a property during conveyancing (title, rates, water, land tax, body corporate and more) to uncover anything that could affect the buyer.

Settlement

The final step where the balance is paid, documents are exchanged and ownership officially transfers. Also called completion. See the process.

Settlement statement

The document setting out exactly who pays what at settlement, including the adjustments for rates and water.

Special conditions

Extra clauses added to a contract beyond the standard terms, tailored to a particular deal (for example, “subject to sale of the buyer’s home”).

Stamp duty (transfer duty)

The QLD state tax a buyer pays when purchasing property. The amount depends on the price and any concessions you qualify for. How it works.

Sunset clause

A date in an off-the-plan contract by which the project must be finished. If it is not, either party can usually terminate, which can cut both ways for buyers. More.

T

Tenants in common

Co-ownership where each person owns a defined share they can leave to whoever they choose, rather than it passing automatically to the other owner.

Title search

A check of the official property register that shows the legal owner and any encumbrances like mortgages, easements or caveats.

Transfer (Form 1)

The legal document that actually transfers ownership from seller to buyer and is registered with QLD Titles at settlement.

Trust account

A regulated bank account where a law firm holds client money (such as deposits) separately from its own funds until it is due to be paid out.

U

Unconditional contract

A contract with no remaining conditions (finance, inspections and cooling-off all done or waived), meaning both parties are locked in to settle.

V

Vendor

Legal speak for the seller of a property.

Verification of identity (VOI)

The ID check law firms must do to confirm you are who you say you are, protecting against property fraud.

W

Water meter reading (special water meter read)

A reading taken near settlement so water usage is adjusted fairly between the seller and buyer.

Z

Zoning

The council planning rules that dictate how a piece of land can be used (residential, commercial, mixed-use), which can affect what you can build or do.