This week in the A – Z of Conveyancing, we’ll go through the commonly used terms in relation to conveyancing, looking at the letter Z.
A classification imposed by the Council which outlines the permissible use of land, such as Residential, Business or Industrial. If you intend on purchasing or developing land, this is an important consideration as you must ensure your planned works or intended use of the land are compliant with any zoning restrictions in place.
A Zoning Certificate (known as a 10.7 Certificate) is a Certificate issued by the Local Council which details the zoning in which your land is in and the permitted use and development of the land. Other matters affecting the land such as heritage items, road widening or environmental requirements will also be noted on the Certificate. This Certificate is required to be attached to a Contract for Sale prior to exchange of Contracts.
For more information on the A – Z of Conveyancing check out our other posts:
The Letter A: Adjustments, Amendments, Auctions
The Letter B: Breach, Broker, Building Contract, By-Laws
The Letter F: Final Inspection, Finance, Fittings & Fixtures
The Letter G: Grants, Guarantee/Guarantor, Goods & Services Tax
The Letter H: Holding Deposit, Home Loan
The Letter I: Inclusions, Inspection Reports, Insurance
The Letter J&K: Joint Tenants, Keys
The Letter M: Mortgage, Mortgagor, Mortgagee.
The Letter N: Negotiations, Notice of Rescission, Notice to Complete
The Letter U: Unconditional, Under Offer