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.