Property name

Property name CRE

As you are known by your name, so is a property known by theirs. As human names may change, in the event of, for example, marriage (or fame), so may a property name be subject to change.

A property is defined as the land, land and improvements, or improvements (in the case of sectional title or strata) that may be sold by the owner, to a purchaser.

Thus, in the instance of land comprising various buildings, but located on one erf, and only sale-able as one, the property name would be an umbrella term for the individual buildings.

Because of the above, building names may differ to property names. A good example of this is an office, retail or industrial park.

A property name does not have a standard format, and can be any one of:

  • the name of the tenant,
  • a combination of the tenant name and location,
  • a street address,
  • a street address and location combination

In the instance of the former, as tenants change, so may the property name have a tendency to change.

Because of the above, property names are not ideal unique identifiers.

Related terms

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Content categories

Subscribe to the Mavenway

Want this content in your inbox monthly?

Menu