Easement
The legal term for the right to use someone else's property such as a shared driveway or a footpath.
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Excambion
Is a contract under which one piece of land is exchanged for another.
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Exchange of contracts
The point where you and the person selling the property sign and swap identical contracts that show the price and what fixtures and fittings are being sold, as well as a date when everything will be finalised. When you exchange contracts the deal becomes legally binding, and if you or the seller pull out before completion, you or they will have to pay compensation to the other side.
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Extra cover or accidental cover
This is insurance against damage to the structure of your property and its contents - for instance, putting your foot through the ceiling or spilling paint on the carpet.
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Feu
A feudal holding. To feu is, strictly, to give out land upon a feudal arrangement, whereby the buyer (vassal) holds land of the landowner (superior), often upon condition that he builds on the land and pays a perpetual rent or feuduty. He remains the owner so long as he pays and observes such conditions. A piece of land that is feued is sometimes therefore referred to as a feu.
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Fittings
Are moveable articles temporarily attached to or connected with land and property.
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Fixtures
Are articles in themselves moveable but so attached or connected to heritable property as to become part of it.
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Flying Freehold
A flying freehold occurs when part of a freehold property overhangs part of a different freehold property or land and is usually formed when a property is split into two or more freeholds. Can be part or all of a property.
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Freehold
This means that you own the property outright as opposed to leasehold where you own the rights to occupy a property for a specified period of time.
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Freeholder
The person or persons who own a property outright.
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FRI Lease
This means a full repairing and insuring lease, i.e. the tenant is responsible for the cost of all repairs/ maintenance and insurance.
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Groundrent
This applies only to leasehold properties and is a sum paid annually to the freeholder by the leaseholder. Need not be an annual payment. It can be quarterly, half-yearly, etc.
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Head Lease
There may be more than one leasehold interest on a property. The freehold is the ultimate interest followed by the head lease then one or more underleases.
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Head leaseholder
The owner of a superior lease to that held by ordinary leaseholders, but which is not the freehold. This is also known as the party that holds an intermediate interest in the property.
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Household Insurance
Buildings and contents insurance can often be purchased together protecting both the building structure and your belongings and possessions inside.
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