Leasehold Definitions - Jargon Buster

37 definitions for letter S:

Sanding (joi.)

Smoothing wooden surfaces with glasspaper by machine or by hand. In painting, the same process of smoothing paint surfaces is called rubbing or flatting down.

Sash window, balanced s. (USA vertical s.) (joi.)

A window in which two opening lights slide up and down in a cased frame, balanced by sash cords tensioned by sash weights and passing over sash pulleys. Compare sliding sash.

Schedule Of Dilapidations

A survey that identifies any repairs required on tenanted properties. This is set against a Landlord's or Tenant's obligations to repair a property as identified in the lease.

Search

The enquiry of information about the property held by the Land registry or by the Local authority.

Self-Contained

A Building or Block that is either detached or otherwise capable of being redeveloped as if it were.

Semi-detached

A property physically joined to one other property.

Service charge

See Maintenance charge.

Servitudes

The rights of a landowner over the land of another i.e. rights of light etc.

Skirting, s. board (Scots base plate) (USA mopboard, washboard, scrub board, base)

Originally a wooden board set vertically round the foot of a wall to protect if from kicks. It may now be built of wall tiles, metal trim, terrazzo, asphalt or other material more durable than wood, and can also be a low upstand of the roof under the flashing at a roof abutment. (Illus. Above).

Smoke detector, automatic s.d., automatic call point

A device that raises a fire alarm and may open smoke outlets automatically, can detect changes in visibility, temperature, ionisation of the air and so on (BS 5445, 5446).

Soffit

The underneath section of a roof overhang, archway etc.

Soil pipe

The pipe which discharges water from a WC to a sewer. This pipe will extend upwards beyond the roof level in order to vent gases from the sewer.

Sole agent

The one estate agent authorised to handle either a sale or let.

Solicitor

The legal professional handling all legal documentation involved in buying or selling a property.

Splayed grounds (joi.)

Grounds with bevelled or rebated edge to provide a key for the plaster where the ground also acts as a screed.

Stamp duty

A government levy payable by the purchaser of a property based on the purchase price. Currently (January 2005), there is no stamp duty payable up to L60,000 between L60,000 and L250,000 - 1%, between L250,000 and L500,000 - 3%, and over L500,000 - 4%

Stock Condition Survey

A Stock Condition survey assesses the condition of an organization's current building stock prior to the use of that stock in maintenance programmes.

Structural clay tile (USA)

American term for what might generally be called in Britain non-structural burnt-clay hollow blocks. Many different sorts exist: side construction tile with cavities horizontal, end construction tile with cavities vertical, partition tile, facing tile, floor tile (hollow floor blocks), furring tile for lining the inner face of outside walls, header tile providing cavities in the backing blocks for headers from the facing brickwork, and so on.

Structural survey

See Building survey

Studio flat

A studio flat has one bathroom/shower room and an open-plan living area that incorporates kitchen and bedroom facilities.

Subject to contract

When an offer is made to purchase a property subject to contract, it means that all dealings are subject to the actual exchange of the contract itself. Nothing is binding on either seller or buyer until the contracts are exchanged.

Surveyor

A professional qualified to carry out the survey.

Search The enquiry of information about the property held by the Land registry or by the Local authority.

A Building or Block that is either detached or otherwise capable of being redeveloped as if it were.

Schedule of Condition

A survey usually carried out by a Chartered Surveyor or Chartered Building Engineer the objective of which is to document the condition of a building. A person taking a lease on a commercial property should commission a Schedule of Condition and ask for this to be incorporated in the lease they are taking, else when the Freeholder/Owner subsequently serves a Schedule of Dilapidations on them there will be no benchmark to document what condition the property was originally in and whether a repair, replacement or improvement would be relevant.

Scott Schedule

The name given to a column style reporting format often used by Surveyors or directed to be provided in court proceedings whereby each party sets out their reply to an issue to assist in reaching a agreement or formulating a determination

Section 20 Notice

Usually used to refer to Section 20 of the 1985 Landlord & Tenant Act which sets out the duties for consulting with lessees where expenditure exceeding the statutory limit is proposed either as a one off or over a period of time on a qualifying long term contract

Section 146 Notice

Usually used to refer to the notice which is serves as the first step in forfeiture action. Forfeiture being the term used for taking away or terminating a lease. Section 146 being Section 146 of the Law of Property Act 1925.

Section 8 Notice

A Section 8 is a Notice which can be served under Section 8 of the Housing Act 1988 as amended by Section 151 of the Housing Act 1996 which sets out the grounds of possession and particulars of the grounds that are being relied upon where a breache(s) of a tenancy has occured and the landlord is seeking posession.

Section 48 notice

A Section 48 is a Notice which can be served under Section 48 of the Landlord & Tenant Act 1987, this being a notice to advise a tenant or lessee of an address in England & Wales upon which notices on the landlord can be served

Service charge arrears

A debt owed by a lessee in respect of service charges. Service charges being a charge collected from lessees/long leaseholders towards the upkeep of a building. Service charge expenditure would typically include items such as buildings insurance, cleaning, gardening, lift maintenance, the managing agents fees, fire alarm maintenance. Service charges can also be payable by a person who owns a freehold property where the property forms part of an estate management scheme, ie, a development of houses with communal woodland or other grounds for which a service charge is collected to effect the maintenance.

Service charge deficit

An accounting shortfall in service charges that has arisen due to more being spent in a given service charge year than was originally provided for in the service charge budget and collected from the lessees on account of expected expenditure.

Service charge budget

An estimate of expenditure likely to be incurred for providing services to a building or estate. Service charge expenditure would typically include items such as buildings insurance, cleaning, gardening, lift maintenance, the managing agents fees, fire alarm maintenance.

Service charge estiamte

An schedule of budgeted expenditure expected to be incurred for providing services to a building or estate. Service charge expenditure would typically include items such as buildings insurance, cleaning, gardening, lift maintenance, the managing agents fees, fire alarm maintenance.

Soffit Board

A board often wood or uPVC that is fixed to the underside of the roof rafters where they become exposed because they protrude over the outer wall of a building.

Statutory accounts

The name given to a set of accounts which comply with the legislative requirements which govern the accounting information which must be disclosed to the public arena for companies limited by guarantee or limited by shares

Surrender a lease

The term used to refer to whena lessee or tenant gives back a property which they hold on a lease before the term of years the lease was granted for has expired

Shareholder

A shareholder is a member of a company where the company is limited by shares, as opposed to limited by guarantee. The shareholder is a member of the company by virtue of their shareholding in it.