Conveyancing Terms Explained: The Australian Glossary

About This Guide LocalAgentFinder has supported Australian homeowners through property transactions since 2007. This guide explains 21 of the most common conveyancing terms in plain English, with state variance called out where it matters. For a qualified conveyancer, we recommend Dott & Crossitt — experienced Victorian conveyancers who work with LocalAgentFinder clients.

Whether you're buying or selling, conveyancing terms land on the page fast and without warning. Contract of Sale, Section 32, adjustments, PEXA, encumbrance — the vocabulary is dense, and most terms only make sense once someone explains them plainly. This alphabetical glossary covers the 21 terms you're most likely to see between offer and settlement, so you can walk into every conversation with your conveyancer already understanding the words being used.

This guide is for general informational purposes only and does not constitute legal advice. Consult a qualified conveyancer or solicitor for advice specific to your circumstances.

Need a conveyancer? Book Dott & Crossitt — LocalAgentFinder's trusted conveyancing partner, familiar with the terms and timelines in this guide.

What is conveyancing?

Conveyancing is the legal process of transferring property ownership from one party to another. It begins when the Contract of Sale is signed and ends at settlement — the moment the buyer pays the balance owed and the title is legally transferred. In Australia, conveyancing is handled either by a licensed conveyancer or a solicitor, and most settlements now happen electronically through the PEXA platform.

Why does conveyancing terminology matter?

Most conveyancing problems come from misunderstandings, not disputes. A buyer who doesn't know what a caveat is may not react quickly when one is lodged; a seller who doesn't understand adjustments may under-budget for settlement. Knowing the vocabulary lets you spot problems earlier, ask sharper questions, and avoid signing something that means more than you thought.

Conveyancing terms A–Z

Adjustments

Adjustments are pro-rata calculations that split property outgoings — council rates, water charges, owners corporation fees, land tax — between buyer and seller based on how long each party owned the property in the current billing cycle. They're calculated as part of settlement so neither party pays for time they didn't own the home.

Caveat

A caveat is a formal notice lodged on a property's title that alerts anyone dealing with the property to a third party's claim or interest. It doesn't prevent a sale outright, but it must be resolved (removed or acknowledged) before title can transfer. Commonly lodged by unpaid contractors, ex-partners, or lenders.

Certificate of Title

A Certificate of Title is the legal document that records the current owner, boundaries, and any encumbrances on a specific parcel of land in Australia. If the property is mortgaged, the lender holds the original; otherwise the registered owner does. In most states, this document is now held electronically.

Chain of Title

The chain of title is the complete historical record of every owner of a specific property, from the current owner back to the original Crown grant. It's checked during conveyancing to confirm the seller has clear, transferable ownership — any break in the chain can delay or block settlement.

Chattels

Chattels are personal, movable items included in a property sale — typically fixtures, appliances, curtains, or furnishings named specifically in the Contract of Sale. Anything not listed as a chattel remains the seller's property after settlement, so this list matters more than many buyers realise.

Contract of Sale

The Contract of Sale is the legally binding document setting out the terms of the property transaction between buyer and seller. It specifies price, deposit amount, settlement date, chattels included, and any special conditions. Once both parties sign and the cooling-off period passes (if applicable), it becomes enforceable.

Conveyancer

A conveyancer is a licensed non-lawyer specialist qualified to handle standard property transfers. They typically cost less than a solicitor and are appropriate for most straightforward transactions, though they can't advise on complex legal disputes that fall outside property law.

Conveyancing

Conveyancing is the legal process of transferring property ownership from one party to another. It runs from the signing of the Contract of Sale through to settlement, when title formally changes hands. Both buyer and seller typically engage their own conveyancer.

Cooling-Off Period

The cooling-off period is the window during which a buyer can withdraw from the contract, usually with a small penalty (typically 0.2% of the purchase price). Length varies by state — 3 business days in Victoria and NSW, 5 in Queensland, and none in Western Australia. Cooling-off does not apply to auction purchases in most states.

Deposit

The deposit is the up-front payment the buyer makes to secure the property, usually 10% of the purchase price. It's held in the agent's or conveyancer's trust account until settlement, when it's applied to the balance owing. Some contracts negotiate a smaller deposit (5%) or a delayed deposit.

Disbursements

Disbursements are third-party costs your conveyancer pays on your behalf during the transaction — title searches, council certificates, PEXA fees, water and rates certificates, settlement lodgement fees. They're separate from and additional to the conveyancer's professional fee, typically adding $300–$800 to the total.

Discharge of Mortgage

Discharge of mortgage is the process of formally clearing the seller's existing mortgage from the title so it can transfer to the buyer unencumbered. The seller's lender releases the title at settlement in exchange for the balance owed. A discharge fee of $150–$350 usually applies.

Easement

An easement is a legal right that allows someone other than the owner to use part of a property for a specific purpose — commonly a shared driveway, utility line, or drainage path. Easements attach to the land and transfer with ownership, so a buyer inherits them at settlement.

Encumbrance

An encumbrance is any claim, restriction, or interest attached to a property title that could affect its transfer or use — mortgages, easements, caveats, or restrictive covenants. All encumbrances must be disclosed during conveyancing and either cleared before settlement or acknowledged by the buyer.

PEXA (Property Exchange Australia)

PEXA is the electronic settlement platform that most Australian residential property transactions now use for exchange, settlement, and title lodgement. It's replaced most paper-based settlement, with the majority of transfers processed through PEXA in under two hours on a business day.

Requisitions on Title

Requisitions on title are the formal questions the buyer's conveyancer asks the seller about the property before settlement — checking for unpaid rates, undisclosed encumbrances, or anything not already covered in the contract. Some contracts limit or exclude requisitions entirely, which is worth checking before signing.

Section 32 (Vendor Statement)

A Section 32, also called a Vendor Statement, is a legal disclosure document required in Victoria that the seller must provide to the buyer before contract signing. It sets out title details, planning restrictions, outgoings, and any mortgages or encumbrances. Similar disclosure documents exist under different names in other states.

Settlement

Settlement is the final stage of a property transaction, when the buyer pays the balance and receives legal ownership. Most Australian settlements now happen electronically through PEXA and complete within a two-hour window on a business day, with keys handed over the same day.

Special Conditions

Special conditions are additional clauses added to the standard Contract of Sale to address issues specific to the transaction — subject-to-finance, subject-to-building-inspection, subject-to-sale-of-existing-property, or extended settlement dates are the most common. Reading them carefully before signing is essential.

Stamp Duty

Stamp duty is a state government tax the buyer pays on property purchases, calculated as a percentage of the purchase price. Rates and thresholds vary by state, with concessions available for first-home buyers, pensioners, and off-the-plan purchases in most states. Payable at or shortly after settlement.

Transfer

The transfer is the legal document that formally moves ownership from seller to buyer. It's lodged with the state land titles office as part of settlement, and once registered, the buyer becomes the new legal owner. In PEXA-enabled states, lodgement happens electronically at settlement.

Key insight: Since 2019, the majority of Australian residential property settlements have moved to electronic exchange via PEXA. What used to take days of paper handovers now completes in a two-hour digital window — but the underlying legal framework, and every term in this glossary, still applies.

Confused by a term your contract uses that isn't listed here? Book a call with Dott & Crossitt — they'll walk you through your specific contract before you sign.

How does conveyancing vary across Australian states?

Conveyancing is regulated at the state level, so specific documents, timelines, and disclosure requirements differ. This table covers the two most-asked-about variances — vendor disclosure documents and cooling-off periods:

State/TerritoryPrimary vendor disclosureCooling-off (residential, private treaty)VictoriaSection 32 / Vendor Statement3 business daysNew South WalesContract with prescribed certificates5 business daysQueenslandContract with Form 27c disclosure5 business daysSouth AustraliaForm 1 statement2 business daysWestern AustraliaJoint Form of General ConditionsNo statutory cooling-offTasmaniaContract terms onlyVaries by contractAustralian Capital TerritoryContract with prescribed documents5 business daysNorthern TerritoryContract terms onlyVaries by contract

Cooling-off periods typically do not apply to purchases made at auction. Always confirm current requirements with a conveyancer licensed in the state of purchase — legislation is updated periodically.

Key Takeaways

• Conveyancing is the legal process of transferring property ownership. Understanding the vocabulary is the fastest way to reduce risk.
• The most-searched practical question is "can the same conveyancer act for both buyer and seller?" — answer: no.
• Section 32 is Victoria-specific; equivalent vendor disclosure documents exist in every state under different names.
• Cooling-off periods vary by state (2–5 business days in most jurisdictions) and don't apply to auction purchases in most cases.
• PEXA is now the default settlement platform for most Australian residential transactions.
• DIY conveyancing is legal but rarely worth it. Professional fees are $700–$1,300 for standard residential transactions.
• Always engage a conveyancer before signing — reviewing the Contract of Sale is where the value is created.