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Know your real estate: Common Law / Common Law Title / Common Price Index

When you are looking for an ideal home to live and you go to a real estate agent or a broker or even a builder, they might use jargons which you might not know.

But we give you a solution!!

Read this space every Tuesday & Wednesday for Real Estate Jargons.

Common Law
An unwritten body of law based on general custom in England and used to an extent in Australia.

Common Law Title (also known as old system title)

  • A series of title documents called a ‘chain of title’.
  • The overall title is sound only if the every document in the chain is sound.
  • The legal investigations are complicated and expensive.
  • An old system title may be converted.

Common Price Index
Measures inflation in relation to the change in the price of a fixed market basket of goods and services purchased by a specified population during a “base” period of time.

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