Real Estate Terminology: L

Landlord:
The person or company from whom another holds tenancy.

Land Titles:
A system of land registration in which the government certifies the accuracy of title as shown on the record.

Land Transfer Tax:
A tax imposed on real property typically calculated on the value of the property.

Lease:
Contract between landlord (lessor) and tenant (lessee) for the occupation or use of the landlord's property by the tenant for a specified time and for a specified consideration (rental).

Legal Description:
A written description by which property can be located and precisely identified.

Lessee:
Tenant under a lease.

Lessor:
The person or company who grants use of property under lease to a tenant.

Lien:
A right, given to a creditor, creating an interest in the real property until the debt is discharged.

Lintel:
A horizontal structural beam that supports the load over an opening such as a door or window.

Lis Pendens:
A legal document giving notice that an action or proceeding is pending in the courts which affects the title to the designated property.

Listing Agreement:
The contract between the listing broker and an owner, authorizing the broker to facilitate the sale or lease of a property.

For more terminology and jargon check:

Energy Efficient Home

Learn how to improve home energy efficiency, make your home more comfortable, and save money without expensive upgrades or months of renovations. Use our tips and slash your energy bills without sacrificing comfort. Read more...

Seller Info

If you currently own property and are thinking of placing it on the market, get informed about preparing your home for sale, pricing your property appropriately, marketing it effectively and learn everything you can about real estate sale process so you can maximize your chance of a profitable sale by avoiding costly marketing mistakes.
Read more...

Know your credit rating first so you have time to resolve any issues that might stand in your way of buying.

Know your price range and obtain a pre-approved mortgage before you start house hunting.

Stick to your price range, no matter the economic situation, because it is safer to buy within your budget.

Lorne Park Brantford

Lorne Park is Brantford's famous showcase horticultural park. The park is named after the Marquis of Lorne who was the Governor General of Canada from 1878 - 1883. Formerly part of the riverbed, park was low lying until it was gradually filled in after the first dikes were built.

In 1914, a study by Dunnington Grubb, a famous landscape firm, suggested that the city buy the property to enlarge Cockshutt Park as far as Lorne Bridge. By 1920 this land had been acquired to beautify the western entrance to Brantford at the river crossing.

For a short period the site was a miniature golf course called Pickwick Park. By 1936 Lorne Park was laid out in formal flower beds. At that time it also featured a bathing area.

The plantings on the south facing slope are changed annually to celebrate various important occasions. This is known as carpet bedding, an art which began in the 19th century.