Real Estate Glossary: Essential Terms from Title Deeds to Investment

Real Estate Glossary: Essential Terms from Title Deeds to Investment

The terminology used in real estate transactions directly affects the decisions made by buyers, sellers, tenants, landlords and investors. Misunderstanding a title deed annotation, a zoning ratio or a security deposit clause may result in financial loss, delays or legal disputes.

This glossary explains the essential terms commonly used in title deed, cadastral, zoning, valuation, rental, investment, taxation, construction and shared-portfolio processes.

For more detailed guidance, visitors may review the relevant content in the BYBORAY Information Centre. Property-specific records and workflows can be managed through the relevant tools within the BYBORAY VIP Ecosystem.

1. Real estate

A general term covering land, building plots, residential properties, commercial properties, buildings and independent units that cannot be physically moved.

BYBORAY direction: Add and manage a property through BYBORAY VIP Ecosystem > Portfolio Entry.

2. Immovable property

A legal term generally referring to registered land, buildings and independent units.

The physical condition, title record, permitted use and legal restrictions should be reviewed together.

3. Title deed

The official registration system showing ownership and the principal legal details of an immovable property.

A title deed record may include:

Province and district
Block and parcel
Independent unit
Registered property type
Surface area
Land share
Owner and ownership shares
Mortgages, liens and annotations

BYBORAY direction: For a detailed transfer checklist, visit Information Centre > Title Deed Transactions.

4. Block

A cadastral area consisting of one or more parcels surrounded by roads or other natural and artificial boundaries.

A block number must normally be used together with the parcel number.

5. Parcel

A legally defined area of land recorded in the cadastral system.

A public map display does not replace an official boundary survey.

BYBORAY direction: Record block, parcel and investment information through Portfolio Entry > Land.

6. Independent unit

A separately usable and registrable part of a building, such as an apartment, shop, office, warehouse or other unit.

The independent-unit number may differ from the external door number.

7. Land share

The ownership share allocated to an independent unit in the land on which the main building is located.

It may affect redevelopment decisions, common rights and the distribution of ownership interests.

8. Condominium ownership

Separate ownership established over completed and independently registered units within a building.

It does not automatically confirm that every technical or legal issue concerning the building has been resolved.

9. Construction servitude

A right established for future independent units in a building that has not yet been completed or transferred to condominium ownership.

The building permit, occupancy status and consistency with the approved project should also be checked.

10. Occupancy permit

An official document confirming that a building has been completed in accordance with its permit and approved plans and may be lawfully used.

BYBORAY direction: For the full construction and delivery process, visit Information Centre > Construction Processes.

11. Zoning status

The collection of planning rules governing the permitted use and development conditions of a parcel.

It may include:

Permitted use
Floor-area ratio
Site coverage
Building height
Number of floors
Building arrangement
Setback distances

BYBORAY direction: Use Information Centre > Land and Zoning Information and the Land and Zoning Analysis module.

12. Floor-area ratio

The ratio between the total permitted floor area and the parcel area.

A theoretical figure does not represent the final net saleable area. Common areas, walls, circulation and planning conditions must also be considered.

13. Site coverage ratio

The ratio limiting the approximate footprint of the building on the parcel.

The actual footprint may be lower because of setbacks and parcel geometry.

14. Setback

The minimum required distance between the building and the road or neighbouring parcel boundaries.

Setbacks can directly affect building footprint, parking, layouts and project efficiency.

15. Subdivision

The legal division of one parcel into two or more new parcels.

Not every parcel can be divided freely.

16. Consolidation

The legal combination of two or more parcels into one parcel.

It may be required to create sufficient frontage or development area.

17. Encumbrance

A general term covering mortgages, liens, annotations, declarations and easements affecting ownership, use or transfer.

Not every encumbrance prevents a sale, but it may continue to affect the new owner.

18. Mortgage

A property right established over real estate as security for a debt.

The repayment and release procedure should be planned before completing the sale.

19. Lien

A legal restriction registered to support the collection of a debt.

The amount, scope and removal procedure should be verified before payment.

20. Annotation

A title deed entry recording a personal right or legally relevant circumstance.

Examples include a family-home annotation, registered lease or preliminary sale agreement.

21. Usufruct

A right allowing a person to use a property and benefit from its income even though another person owns it.

22. Shared title

An ownership structure in which several people own mathematical shares in the same property.

A share does not normally represent ownership of a particular physical corner of the parcel.

23. Market value

The estimated amount for which a property could be exchanged under normal market conditions as of a particular date.

Market value, municipal tax value and the seller’s asking price are different concepts.

24. Real estate valuation

A professional assessment of a property’s value after reviewing its legal, physical, economic and market characteristics.

BYBORAY direction: Use BYBORAY VIP Ecosystem > Valuation and visit Information Centre > Valuation.

25. Comparable property

A property considered sufficiently similar to the subject property for market analysis.

Not every online advertisement is a reliable comparable, and an asking price is not necessarily a completed sale price.

26. Net floor area

The area that can normally be used within an independent unit.

The measurement method should be clearly stated.

27. Gross floor area

A broader area measurement that may include walls and certain shares of common areas.

Different market participants may calculate gross area differently.

28. Rental income

Income generated by leasing a property.

Net income should be calculated after vacancy, maintenance, taxes, insurance and owner-paid expenses.

BYBORAY direction: Use BYBORAY VIP Ecosystem > Rent Tracking.

29. Gross rental yield

A simple ratio calculated as:

Annual gross rent ÷ total investment cost × 100

It does not include expenses.

30. Net rental yield

The return remaining after relevant costs have been deducted from rental income.

31. Payback period

A basic estimate of how many years of rental income may be required to recover the purchase cost.

It should not be used as the only investment indicator.

32. Security deposit

An amount provided by the tenant as security for obligations under the lease.

The amount, safekeeping method and return conditions should be written clearly.

BYBORAY direction: Use Documents and Agreements for property-linked lease documents.

33. Eviction undertaking

A written document stating that the tenant will vacate the property on a specified date.

Its validity depends on timing, content and statutory form requirements.

34. Title deed fee

A fee collected during the official transfer of ownership.

Current rates and official charges should be checked on the transaction date.

35. Capital gain

A gain that may arise when a property is sold for more than its eligible acquisition cost under applicable tax rules.

36. Urban transformation

The redevelopment of risky buildings or designated areas under the relevant legal and planning framework.

BYBORAY direction: Visit Information Centre > Urban Transformation.

37. Construction-for-land-share agreement

A development model under which the landowner transfers agreed project or land-share rights to a contractor in exchange for completed independent units.

BYBORAY direction: Use Construction and Project Tracking for project, owner, contractor and delivery records.

38. Building permit

Official permission allowing construction according to approved plans and current planning rules.

39. Construction supervision

The process of checking whether construction complies with the permit, approved plans and technical requirements.

40. Property portfolio

The complete collection of properties managed for sale, rent, follow-up or investment purposes.

BYBORAY direction: Manage all records through BYBORAY VIP Ecosystem > Portfolio Entry.

41. Marketing authorisation agreement

An agreement authorising a real estate business to market a property for sale or lease.

It should clearly define the property, duration, services, fees and special conditions.

42. Shared portfolio

A property marketed collaboratively between authorised real estate professionals under agreed sharing and commission terms.

BYBORAY direction: Activate Portfolio Entry > Display on Shared Network and use the Shared Portfolio Network.

43. Shared commission

The service fee agreed to be shared between the portfolio representative and the professional representing the buyer or tenant.

44. Portfolio authorisation

The authority granted by the owner to market, advertise and present the property.

It does not automatically provide authority to transfer ownership.

45. Client presentation

A structured document or digital presentation prepared for a buyer, tenant or investor.

It may contain property details, photographs, location, price, rental return, legal summaries, advantages and risk notices.

BYBORAY direction: Use Portfolio Entry, Client Presentation and the Visual and Video Creation tools.

BYBORAY Information Centre and application guidance

Visitors can continue through the BYBORAY Information Centre to access detailed guidance on:

Title deed transfers
Lease agreements
Urban transformation
Property purchases and sales
Valuation
Property taxation
Investment
Construction
Land and zoning
Real estate terminology

Within the BYBORAY VIP Ecosystem, users can manage the related information through:

Portfolio Entry
Valuation
Rent Tracking
Documents and Agreements
Land and Zoning Analysis
Construction and Project Tracking
Shared Portfolio Network
Client Presentations
Visual and Video Creation

After reading this glossary, users may proceed to BYBORAY VIP Ecosystem > Portfolio Entry, select the relevant property type and continue to the appropriate valuation, documentation, rental, zoning or shared-network workflow.

Conclusion

Understanding real estate terminology is the first step toward making informed decisions. Terms such as title deed, land share, floor-area ratio, encumbrance, valuation, net return and construction-for-land-share each carry different legal and financial consequences.

This glossary provides general explanations. Every property has different title deed, zoning, taxation, contractual and physical circumstances.

Legal Notice: This content is provided for general information only. It is not a legal opinion, valuation report, investment recommendation or official transaction document. Current property-specific information should be obtained from the relevant public authorities and, where necessary, from a lawyer, accountant, architect, engineer or authorised valuation professional.