Glossary of Terms

---

SALESPERSON
	A licensee of a brokerage authorized to trade in Real Estate (as defined within the Real Estate and Business Brokers Act). Also can be referred to as a Sales Representative or an Associate Broker.
SEALED AND DELIVERED
	A term indicating that a conveyor has received adequate consideration as evidenced by his/her voluntary delivery. The word "sealed" adds more strength since under old conveyancing law an official seal was used as a substitute for consideration.
SERVIENT TENEMENT
	Land over which an easement exists in favour of the dominant tenement.
SET BACK
	The distance from the curb or other established line within which no buildings may be erected.
SHINGLE
	A relatively thin and small unit of roofing, partially laid in overlapping layers as a roof covering or as cladding on the sides of buildings.
SPECIAL ASSESSMENT
	An assessment which is not customarily levied and which is made against only those specific parcels of property directly benefiting therefrom.
SPECIFIC PERFORMANCE
	A remedy in a court of equity compelling a defendant to carry out the terms of an agreement or contract. It is available only where the remedy of damages cannot afford adequate relief to the plaintiff.
STATEMENT OF ADJUSTMENTS
	A statement prepared by the solicitor for the vendor setting out, in balance sheet form the credits to the vendor (e.g. purchase price, prepaid taxes, prepaid insurance, etc.) and the credits to the purchaser (e.g. deposits, arrears in taxes prior to the date of closing) and the balance due on closing, so that both the purchaser and the vendor will have a record, at the date of closing of the financial breakdown of the transaction.
STATUTE
	A law established by an act of the legislature.
STATUTE OF FRAUDS
	A law which provides that certain contracts must be in writing in order to be enforceable at law. It includes real estate contracts.
STUCCO
	Any cement-like material used as an exterior covering for walls and the like, put on wet and drying hard and durable.
STUDDING
	One of the series of wood structural members used as supporting elements in walls and partitions. Plural: studs or studdings.
SUB-AGENT
	An agent authorized by the listing agent to assist in transacting the affairs of the principal (with express or implied consent of principal).
SURVEY
	The accurate mathematical measurement of land and buildings thereon, made with the aid of instruments.
SYNDICATE
	An association of individuals formed for the purpose of owning, operating and managing large parcels of real property for the mutual benefit of all, and organized as a corporation, limited partnership or joint venture.