News & Publications Glossary
Glossary
Trust Account
A special account operated by the solicitor and monitored by auditors. This account is used to hold funds on behalf of other people, usually clients’.
Types of Land
Freehold title, group title, strata title, building units, leasehold, torrens title, old systems title, crown leasehold.
Unimproved Value
The value placed on the land by the Queensland Valuer General. It is the value of the land without any improvements on it.
Vacant Possession
The acquiring of possession of a property without any tenant or other person living in the property. See “Possession”.
Zoning
A method of categorising property by the Local Council. Each particular zone has three (3) broad categories of use. These being:- uses as of right, uses that can be achieved after permission is sought and, uses which would never be allowed.
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I have been using Q Solicitors for 5 years and continued to do so when Myles Murphy purchased the firm in 2007. I have always found Myles and his staff professional, helpful and highly efficient. In addition to my personal legal matters, I have also engaged Myles to work on a particularly difficult commercial problem. Myles was able to assess the situation, structure resolutions for some unusual scenarios and achieve our end objective, whilst ensuring that I was covered legally. I would highly recommend Q Solicitors to any person or organisation requiring legal expertise.
Adam Bourke
Mortgage Choice
