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Parcel
In a strata scheme, a unit of strata subdivision is referred to as a
"parcel".
Periodic Tenancy
A tenancy that is not bound to a lease with a fixed period, but follows
another period such as a month-to-month tenancy or a week-to-week
tenancy.
Power of Attorney
Instrument authorizing a person to act as the agent of the person
granting it, and a general power authorizing the agent to act generally
on behalf of the principal. A special power limits the agent to a
particular act for example, a landowner may grant an agent special power
of attorney to convey a single, specific parcel of property. Under the
provisions of a general power of attorney, the agent having the power
may convey any or all property of the principal granting the general
power of attorney.
Private Caveat
A caveat is a prescribed form to prevent any further transactions in
property. Any person or body claiming title to, or any registrable
interest in, any alienated land or any right to such title or interest.
Prospecting
The step in the selling process that identifies potential customers for
a product.
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