Reference
Property glossary
Plain-English definitions of 37 key property terms across the jurisdictions we serve. Sourced from primary references (HMRC, RICS, GOV.UK, Dubai Land Department) — links below every entry.
Tax + fiscal
Tax + fiscal
ATED
GBATED is an annual UK charge on residential property worth over £500,000 held by a company, partnership with a corporate member, or collective investment scheme (an "enveloped" dwelling). Charges run on a banded scale that rises with value.
CGT
GBCGT is the UK tax on the gain made when you sell or dispose of a property that is not your main home. Residential-property gains are taxed at 18% (basic-rate band) and 24% (higher-rate band) after deducting the annual exempt amount.
Council tax
GBCouncil tax is an annual UK local-authority charge paid by the occupier of a residential property. The amount is set by the local council based on the property's council-tax band (A–H in England/Scotland, A–I in Wales).
DLD service fee
AEThe Dubai Land Department (DLD) service fee is an annual charge administered by the DLD covering property registry, oversight, and master-community contributions. Distinct from the one-off 4% transfer fee paid on purchase.
IHT
GBIHT is the UK tax charged on the value of a deceased person's estate above the nil-rate band (currently £325,000), at 40%. UK-situated real estate is always within the net, regardless of the owner's domicile or residence.
Non-dom
GBA "non-dom" was a UK resident whose permanent home (domicile) was treated as outside the UK, historically allowing foreign income and gains to be taxed only when remitted. The remittance basis was abolished from 6 April 2025 and replaced by a residence-based regime.
Property tax
Property tax is an annual recurring tax on real-estate ownership. In the US it's the local county property tax (~0.5-2.5% of assessed value); in Singapore it's the IRAS Annual Value tax; in Japan it's the kotei-shisan-zei (固定資産税).
SDLT
GBSDLT is the tax paid to HMRC by buyers of UK residential property. It's tiered: bands at 0%, 5%, 10%, 12% (main rate); a 5% additional-property surcharge; and a 2% non-resident surcharge.
Compliance + KYC
Compliance + KYC
Beneficial ownership
The beneficial owner is the real individual who ultimately owns or controls a property or the entity that holds it, as opposed to the legal owner named on the title. Identifying it is central to anti-money-laundering checks.
Ejari
AEEjari is the Dubai system that registers residential and commercial tenancy contracts with RERA, making a lease legally recognised. Registration is mandatory and is required to connect utilities and to renew visas tied to a tenancy.
KYC
KYC is the identity-verification process estate agents must complete before transacting with a buyer. AML is the wider regime preventing real estate from being used to launder illicit funds.
Source of funds
Source of funds is evidence of where the specific money for a purchase came from; source of wealth is how the buyer's overall wealth was generated. Both must be documented under anti-money-laundering rules before a property transaction completes.
Title insurance
USTitle insurance protects a buyer or lender against losses from defects in a property's title — undisclosed liens, errors in the record, forgery, competing claims — that existed before purchase. It is standard in the US and available elsewhere for specific risks.
Finance + mortgages
Finance + mortgages
BTL
GBBuy-to-let is buying a residential property to rent out rather than live in. BTL mortgages are assessed mainly on expected rental income, and the investment is taxed differently from an owner-occupied home.
Rental yield
Rental yield is the annual rent a property earns expressed as a percentage of its value. Gross yield is rent ÷ price; net yield deducts running costs. It is the standard measure of an investment property's income return.
Process + transactions
Process + transactions
CBI
Citizenship by investment grants nationality — a passport — in return for a substantial investment, often including qualifying real estate. Several Caribbean states and a small number of others operate CBI programmes.
Completion
GBCompletion is the day legal ownership transfers and the buyer gets the keys. The balance of the purchase price moves from the buyer's conveyancer to the seller's, and the property is now the buyer's.
Conveyancing
GBConveyancing is the legal process of transferring ownership of property from seller to buyer. A conveyancer or solicitor handles searches, contract, enquiries, the transfer deed (TR1) and registration at HM Land Registry.
Escrow account
An escrow account holds money or assets with a neutral third party until agreed conditions are met. In real estate it protects deposits and off-plan instalments, releasing funds only when milestones or completion are reached.
Exchange of contracts
GBExchange of contracts is the moment a property sale in England & Wales becomes legally binding. Both parties sign identical contracts, the buyer pays a deposit (usually 10%), and a completion date is fixed.
Gazumping
GBGazumping is when a seller accepts a higher offer from a different buyer after already accepting an offer, but before contracts are exchanged. It is legal in England & Wales because nothing binds the parties until exchange.
Golden visa
A golden visa grants long-term residency in return for a qualifying investment, often including real estate. The UAE grants a renewable 10-year residence visa to buyers of property at or above AED 2 million.
Off-plan property
Off-plan property is sold before construction is complete — sometimes before ground is broken. Buyers usually pay in instalments tied to construction milestones, with the developer holding their funds in escrow.
Oqood
AEOqood is the Dubai Land Department system for registering off-plan property purchases before the final title deed is issued. It records the buyer's interest in an under-construction unit and is a prerequisite to the eventual transfer.
POA
POA means the asking price is not advertised publicly. Qualified buyers receive the price after they introduce themselves to the agent and meet vendor-defined criteria.
Residency by investment
Residency by investment is any programme granting the right to reside in a country in return for a qualifying property or capital investment. It confers residence — not citizenship — and the right to live, and often work, in the jurisdiction.
RICS home survey
GBA RICS home survey is an independent inspection of a property's condition by a chartered surveyor, graded Level 1 (condition report), Level 2 (homebuyer survey) or Level 3 (full building survey). It is separate from a lender's mortgage valuation.
Snagging
Snagging is the inspection of a newly built or newly finished property to list defects ("snags") — from cosmetic finishing to faulty services — that the developer must fix, usually before or shortly after handover.
Tenure + ownership
Tenure + ownership
Commonhold
GBCommonhold is a form of freehold ownership of a flat within a building, where the common parts are owned and run collectively by a commonhold association. It removes the landlord, ground rent and lease expiry of leasehold.
Ground rent
GBGround rent is the annual rent paid by a leaseholder to the freeholder for the use of the land under the property. Under the Leasehold Reform (Ground Rent) Act 2022, ground rent on most new long residential leases in England and Wales is now restricted to one peppercorn (effectively zero).
HOA fee
USHOA fees are recurring charges paid by US condominium / planned-community owners to the homeowners association that maintains shared amenities, insurance, and reserves. Equivalent to UK service charge.
Leasehold vs freehold
GBFreehold means you own the property AND the land in perpetuity. Leasehold means you own the property for a fixed term (typically 99–999 years) under a lease from the freeholder.
Service charge
A service charge is an annual fee paid by leasehold flat owners (UK) or condominium owners (UAE, US) to cover the upkeep of communal areas, building insurance, and contributions to a reserve fund for major works.
Share of freehold
GBShare of freehold means the owner of a leasehold flat also owns a share of the freehold of the whole building, usually through a company that the flat-owners jointly control. It is generally the strongest tenure for a flat.
Title deed
A title deed is the official document proving legal ownership of a property. In England & Wales the register at HM Land Registry is the authoritative record; in Dubai the Dubai Land Department issues the title deed.
Sustainability + energy
Sustainability + energy
EPC rating
GBAn Energy Performance Certificate (EPC) rates a property's energy efficiency on a scale of A (most efficient) to G (least). Required by law for any UK property being sold or rented; valid for 10 years.
MEES
GBMEES is the UK regulation banning the letting of properties below a minimum EPC rating. The current floor is E; the rumoured 2025 tightening lifts it to C for new tenancies.
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In depth
One vocabulary, read across four jurisdictions
Property paperwork rarely uses the same word twice across borders. This glossary keeps the definitions honest and jurisdiction-specific — here is how to use it.
Definitions tied to a source, not an opinion
Every entry is drawn from a primary reference — HMRC, RICS, GOV.UK, the Dubai Land Department — rather than a house view, so the meaning holds up when a solicitor or lender reads it back. When a term behaves differently in the UK, the UAE, the EU or the US, the entry says so instead of flattening it into one answer.
From a term to a number
A definition is the start, not the end. Where a term carries a cost — stamp duty, ground rent, EPC-driven works — pair it with the property calculators to model the real figure, or read the longer guides for the workflow around it. Selling and want the number first? Start with a valuation.
Buying or moving across borders
If you are relocating, the vocabulary shifts with the market. Our relocation desks translate the local tenure, tax and financing terms into the ones you already know, and the market data shows where the numbers sit today. When a term still doesn't fit your situation, speak to an advisor.
Which jurisdictions does the glossary cover?
The definitions span the markets we serve — the United Kingdom, the UAE, the wider EU and the US. Where a term means something different from one jurisdiction to the next, the entry spells out the difference rather than giving a single blended answer.
Where do the definitions come from?
Each entry is grounded in a primary source — HMRC, RICS, GOV.UK and the Dubai Land Department among them — so the wording stands up when a lender, solicitor or tax adviser reads it. Every full entry links back to its references.
How often is the glossary updated?
Terms are reviewed as the underlying rules change — for example when stamp duty bands, EPC/MEES requirements or KYC thresholds move — so a definition reflects the current position rather than a historic one.
A term I need is not listed — what should I do?
Tell us. A senior advisor will define it in the context of your transaction and, where it is broadly useful, we add it to the glossary. Start a conversation from the contact page.