Nomenclature in real estate

Annuity - a payment to redeem a loan, consisting of both the repayment itself and interest. The amount is the same over the repayment period. At the beginning, most of the interest is amortised from the principal, and then the ratio decreases steadily in favour of the repayment itself. 

Annuity repayment - In this form of repayment, the principal is amortized over the entire repayment period at a fixed rate. The annuity payment includes the principal payment itself and interest. The ratio of the two varies over the repayment period.

Bank guarantee - A bank guarantee is created by a written declaration of the bank in the guarantee document that it will satisfy the creditor up to a certain amount of money according to the content of the guarantee document. This occurs in the event of the debtor's failure to comply with a specific obligation or in the event of a breach of the conditions specified in the guarantee document.

Bonitated soil ecological unit (BPEJ) - This is a five-digit numerical code, reflecting the main soil and climatic conditions, on the basis of which agricultural land is valued. Soil and climatic conditions have an important influence on the economic valuation of agricultural land.

Building - an above-ground building which is spatially concentrated and closed externally by perimeter walls and roof structure and which has been assigned a description or registration number (Act 344/1992 Coll.).

Building under construction - a building in at least such a stage of disintegration that the structural, technical and functional arrangement of the first floor is already visible, if it has not yet been assigned a description or registration number, and for a building that is not assigned a description or registration number, if its use has not yet begun (Act 344/1992 Coll.).

Apartment - It is a room or a set of rooms which, from a structural and technical point of view, are so functionally arranged that they are fully suitable for permanent living. The building authority decides whether a dwelling is intended for habitation.

Apartment under construction - A dwelling consisting of a room or group of rooms which, in accordance with planning permission, is intended for habitation. The house must be at such a stage of construction that it is already enclosed by external walls and covered by a roof structure.

Apartment in private ownership - This is an apartment, which is in accordance with Act No. 72/1994 Coll., the Act on Ownership of Flats, registered in the Land Registry as a housing unit.

Housing cooperative (BD) - A community of unenclosed numbers of persons which is established for the purpose of providing for the housing needs of its members.

Residential real estate - we refer to apartment, family house and condominium.

Residential house - A residential building designed for residential use, consisting of multiple dwellings that are accessible from common areas. The residential building has a common main entrance which is accessible from the main road.

Housing stock - the sum of apartments of a certain locality.

Drawdown - Use of the financial contribution. The client has the possibility to choose the account where the funds will be provided. The disbursement occurs both in one-off and gradual form.

One-off drawdown - One-time transfer of funds to an account selected by the client.

Phased drawdown - Repeated provision of funds to the account designated by the client. The drawdown occurs in multiple amounts to the account designated by the client. For each additional drawdown, the client is obliged to comply with the agreed terms and conditions, which are set out in the loan agreement.

Drawdown of credit - after the conclusion of the loan agreement, the client can start drawing the funds provided according to the terms and conditions set out in the respective loan agreement.

Taking out a loan from a building society - you can take out a loan from a building savings account when the building savings contract has been concluded for at least 24 months and you have saved at least 30 - 50% of the target amount for which you concluded the contract

Registration number - The registration number is used to identify buildings that have not been assigned a description number. These are mainly buildings and objects that are intended for occasional living, e.g. holiday homes.

Reference number (blue) - It is mainly used for navigation and is separated from the descriptive number in the address by a slash.

Parcel number - A parcel number is assigned to parcels that are listed in the Land Registry and serve for indirect identification within the cadastral area.

Descriptive number (red) - It shall be granted to each separate building if it is a building of a permanent character.

Definition of surfaces - The definitions given here are determined from available CSN standards, decrees and standard terms used in civil engineering. Precise definition of individual terms is not reasonably possible. All terms are subject to a significant number of limiting conditions and contexts. Individual room names should accept the approved condition of the building and not the actual or intended use.

1. LAND

1.1. Total land area

This is the total area of the land, which should be identical to the area of the land registered in the Land Registry according to the parcel number. The actual building objects are usually built on a so-called building plot. The area of the building plot is usually not identical to the built-up area.

1.2. Built-up area

There is no uniform definition of the built-up area in relation to the Building Act. The definition of the built-up area according to the CSN is 'the area of the plan section defined by the outer perimeter of the vertical structures of the unit under consideration (building, floors or parts thereof); at the first floor it is measured above the footing or plinth, not including the insulating appendages. In the case of unroofed or semi-roofed buildings, the built-up area shall be defined by the envelope lines drawn along the outer faces of the vertical structures in the plane of the landscaped ground'.

Simply put, in normal cases it is the area defined by the outer face of the envelope.

1.3. Garden area

Here I would define it as the total land area minus the built-up area of all buildings on the land and the area of paved roads.

1.4. Paved areas

These are areas of roads (parking spaces, paths, etc.) and other paved areas (outdoor patios, etc.) that have a paved surface.

2. RESIDENTIAL BUILDINGS

Residential buildings include dwelling houses, residential parts in buildings of other uses, extensions and additions to buildings which create new dwellings, detached houses, extensions and additions to detached houses.

2.1. Usable area

The sum of the areas of all rooms in the building.

2.2. Total area of the apartment (floor area)

The sum of the areas of all rooms of the apartment including terraces, balconies and loggias.

2.3. Living room area (living room)

The sum of the areas of all rooms that meet the requirements for a habitable room. A habitable room is a part of an apartment (in particular a living room, bedroom, dining room) that meets the requirements of a special regulation, is intended for permanent living and has a minimum floor area of 8 m2; if the apartment consists of a single habitable room, it must have a floor area of at least 16 m2 (18 m2 in Prague)." In Prague, a kitchen with a floor area of more than 12 m2 is also considered a living room. For rooms with sloping ceilings (attics), an area with a clear height of less than 1.3 m (1.2 m in Prague) is not included in the living room area.

In addition, the living room must meet a considerable number of parameters, from sufficient clearance, through the parameters of the indoor environment, to the continuity with the other rooms of the apartment. The precise definition of these conditions is contained in several CSN standards and decrees and cannot be summarised in a few paragraphs.

3. HOLIDAY COTTAGES

Built-up area, usable area, land area (these terms are explained above).

4. COMMERCIAL PREMISES

The terms smallest area and largest area are not commonly used in practice. The other terms are again defined above.

Here I would also introduce the term "office space". This is the area of all offices (not including warehouses, sanitary facilities, etc.).

5. AGRICULTURAL BUILDINGS

Again, see above for terms.

6. HOTELS, PENSIONS, RESTAURANTS

Again, see above for terms. For hotels and guesthouses, the classification should be done mainly according to the categorization (number of stars), which is again linked to the room areas.

Delicacy - Delinquency occurs when any amount owed is in arrears when due.

Depository - Amount deposited in a financial institution.

Debt - A debtor's obligation to make a specific payment to a creditor that occurs within the context of a legal relationship.

Bond - It is a debt security by which the debtor undertakes to fulfil its obligation on a certain date. At the same time, the bondholder has the right to demand full performance from the debtor on a specified date.

Borrower - Any person who undertakes to repay the lender the amount of money provided becomes a borrower.

Maturity period - The date specified under the contract by which the borrower is obliged to repay the amount of money provided, including any additional charges.

Finish - The overdraft occurs when the client has received the full amount of money agreed.

Documentary letter of credit - It is an irrevocable written commitment that assures the seller that he will be paid for the goods once the terms of the letter of credit are met. And it also assures the buyer that payment of a certain amount will not be made if the seller fails to meet the terms and conditions set out in the letter of credit.

Auction - A sale that is public and open to a larger number of people. The object of the sale belongs to the highest bidder by way of a sale offer. At the same time, the buyer must undertake to comply with all the conditions laid down for this type of sale.

Voluntary auction - It takes place at the will of the owner of the auction object. The owner may also be an authorised person who obtains the authorisation on the basis of a legal regulation, i.e. the liquidator or the bankruptcy trustee may also become the auction proponent.

Involuntary auction - It takes place without the consent of the owner of the auction object at the proposal of the auction creditor. Auction creditors include mortgage creditors, creditors whose claims are secured by a restriction on the transfer of the property, creditors whose claims are secured by a lien and others.

Auction security - This is a cash or bank guarantee that the bidder is obliged to deposit. The amount and the date by which the auction security must be deposited shall be determined by the auction decree. If the bidder fails to auction the auctioned item, the auction security shall be returned to him without delay.

Auction Decree - This is the announcement document, which contains the necessary information for the auction and according to which the auction is announced. The decree specifies the auctioneer, the description of the auction object, the date and place of the auction and the type of auction. It also sets out the minimum bid and the minimum bid, the time limit for depositing the auction principal, and other information.

Auctioneer - It can be either a natural person who is registered in the Trade Register or a legal person who is registered in the Commercial Register. The auctioneer may also be a competent public authority.

Minor construction - a building with one storey above ground, if their built-up area does not exceed 16 m 2 and height 4.5 m, which performs a complementary function to the main building, and buildings on land intended for the performance of forest functions, used to ensure the operation of forest nurseries or to operate hunting, if their built-up area does not exceed 30 m 2 and height 5 m. Garages, warehouses for combustibles and explosives, buildings for civil protection, fire protection, buildings for the uranium industry and nuclear installations, warehouses and landfills for hazardous waste and buildings for water works are not considered to be small buildings (Act 344/1992 Coll.).

Types of land - Land is a delimited part of the earth's surface and its types include agricultural land (arable land, hops, vineyards, garden, permanent grassland, orchard), forest land, water area, built-up areas and courtyards and other areas.

Cooperative apartment - The owner of the cooperative apartment is the cooperative, whose members have the right to rent according to the rights and obligations associated with membership in the cooperative.

House with flats and non-residential premises owned by - It is a building divided into separate residential and non-residential units. These units are listed in the title deed. The common part of the building is determined by the co-ownership share of the unit owners.

Real estate records - It was introduced before the cadastral law in 1964 and included an inventory of real estate, including ownership rights.

Extravillan - it denotes the undeveloped part of the municipality, or its cadastral territory.

Interest rate deviation fixation - It ensures a fixed interest rate deviation for the entire duration of the loan agreement.

Interest rate fixation - Fixing the interest rate guarantees that the interest rate will not change for a certain period of time. After the fixation ends, the interest rate changes according to the current and valid market values.

Fixed interest rate - A fixed and unchanging interest rate set for an agreed period of time within a credit relationship. In the Czech Republic, one-, three-, five- and ten-year fixations are common.

Repair Fund - The owners of the housing units contribute to the repair fund every month. The amount of the contribution is determined according to the owner's share of the common areas, which is indicated in the owner's declaration and statement of ownership. The repair fund is used for maintenance and repair of the common parts of the building. It does not cover other charges (property tax, building insurance, etc.).

Natural person - entrepreneur - A person conducting business on the basis of an acquired trade licence.

Natural person - A person who has the legal capacity to have rights and obligations. This is acquired at birth and lost at death. On reaching the age of 18, a natural person acquires full legal capacity.

Geometric determination of the property and cadastral area - determination of the shape and dimensions of the property and the cadastral area, defined by their boundaries in the imaging plane (Act 344/1992 Coll.).

Geometric plan - The geometric plan is an integral part of the documents according to which this registration is carried out. The proposal for the amendment expressed graphically with a quantification of the areas after the amendment and with a statement of the property rights. The geometric plan must be confirmed by the cadastral office after it has been drawn up (it is intended for the maintenance of the cadastre in its current state).

Mortgage bank - An institution that specializes in mortgage lending.

Mortgage loan - A loan, the repayment of which is secured by a lien on the property. The purpose of the loan may be to purchase the property, finance the construction of the property, and more.

Mortgage pledge certificates - It is a bond security through which a mortgage loan is financed. The value of the mortgage bonds is covered by a mortgage on the property.

Identification of parcels - comparison of the entry and drawing of the same property in the cadastral register with the entry or drawing in other registers or final decisions of state authorities (Act 344/1992 Coll.).

Collection - A type of payment transaction in which a payment is deducted from the borrower's account by the creditor.

One-off instalment - An extraordinary repayment by which the borrower pays the remaining balance of the loan, including agreed fees and interest.

Other authorized - It is a person established by a right other than ownership, registering in the Land Registry.

Security - The principal amount that has been lent or used as a deposit. The principal includes interest, which is ancillary to the principal.

Principal, loan principal - A borrowed sum of money. The borrower, the person obliged to repay the lender the amount previously lent, pays a fee (interest) to the lender for lending this sum of money.

Real estate cadastre - The real estate cadastre is a public collection of information about real estate. This information includes the description of real estate, its geometric and positional identification. It records ownership and other rights in rem that are attached to real estate. It is a multi-purpose cadastre, used for tax, statistical and technical purposes.

Cadastral map - a large-scale position map with a description showing all the properties and cadastral areas subject to cadastral registration. Land is shown on the cadastral map by the projection of its boundaries onto the projection plane, identified by parcel numbers and land type markers; buildings are shown by the projection of their outer perimeter (Act 344/1992 Coll.).

Cadastral Office - The central government authority in which all data on real estate (all rights to real estate) are kept. Each ornamental town is linked to the relevant cadastral office.

Catastral territory - a technical unit, which consists of a locally closed and jointly registered set of properties in the cadastre (Act 344/1992 Coll.).

Colaudation - An official procedure according to which the competent building authority issues a decision on whether a certain building meets the relevant standards (building, hygiene and fire protection) and at the same time grants permission to use the building for the given purpose.

Comprehensive land development - On the basis of this activity, ownership rights to land are arranged, with which easements are also related. In this activity, land is also merged, divided or spatially and functionally modified. This secures access to the land, thereby creating the conditions for soil conservation, landscape improvement, improvement and management. But it also provides conditions for increasing ecological stability.

Debt consolidation - Debt consolidation changes the repayment period and combines multiple debts into one liability. As part of the consolidation, the payment terms are adjusted.

Copy of cadastral map - A manually, reprographically or computer generated image of a cadastral map. It is also a public document.

Purchase contract - A private legal document by which the seller is obliged to hand over the object of purchase to the buyer and the buyer undertakes to accept the object and pay the agreed price to the buyer. When a property is sold, it must be in writing and the purchase contract must include all the identification (seller, buyer, subject of purchase and purchase price).

Letter of ownership - It is a public document issued by the cadastral office. The title deed certifies ownership of the property. This deed contains all the information that is also registered in the Land Registry.

LTV – "Loan to value", or amount to lend. It expresses the ratio between the mortgage loan and the value of the mortgaged property.

Mezzanine - Term for the floor that is located between the ground floor and the first floor.

Maisonette - An apartment that has two or more floors.

Extraordinary instalment - This is a repayment outside the repayment schedule.

Municipalita - City or municipal government.

Acquisition title - A document on the basis of which a person acquires ownership of real estate, e.g. a contract of inheritance, a contract of sale, a contract of donation, a contract of transfer, etc.

Lease agreement - A contract under which the lessor is allowed to use an item, for an agreed amount and for an agreed period of time.

Proposal for entry into the Land Registry - A proposal, on the basis of which, upon conclusion of the purchase contract, the cadastral office will initiate proceedings for authorising the registration of the entry of the right in the land register.

Non-residential space - Non-residential space is a room or group of rooms that are not intended for living purposes according to the building authority.

Non-residential space under construction - is a room or a group of rooms that are not intended for living purposes according to the building authority, if the space is built in a house with flats and non-residential premises. The house must be in such a state of construction that it is already enclosed by external walls and covered by a roof structure.

Underspending - An overdraft occurs when the client does not draw the full amount that is contractually due.

Real Estate - It is a plot of land or a building that is fixed to the ground (for example, a house, cottage, garage, field, garden, pond, etc.)

Usual current price - The final price that is achieved when the same or similar property is sold in the ordinary course of business.

Real estate valuation - This is the price of the property, determined according to an expert opinion.

Estimate of the property - Valuation of property, especially in the case of a contractual transfer or sale of a freehold property. If, for example, the value of the property is higher, then a real estate appraisal can be carried out by an expert witness.

Personal data protection - It is based on Act No. 101/2000 Coll., on the protection of personal data and it is about ensuring the protection of sensitive data such as the birth number.

Self-employed (Self-employed) - A natural person operating on the basis of an acquired trade licence.

P.A. (method of interest) - Or Per annum, which means annually.

Parcel - land that is geometrically and positionally determined, shown on the cadastral map and marked with a parcel number (Act 344/1992 Coll.).

Plot of land - land that is not a building plot (Act 344/1992 Coll.).

Building plot - land registered in the land type built-up areas and courtyards (Act 344/1992 Coll.).

Seal - points out the ongoing changes in the Land Registry concerning the legal relations registered therein. It is marked no later than on the next working day after the Cadastral Office receives the document on the basis of which the entry is to be made in the Land Register. It shall be marked with the letter 'P' appearing in the extract from the Land Register before the designation of the property or unit to which the changes in legal relations under way relate. If a 'P' seal appears on the title deed, it means that something is happening to the property or information. For example, there may be a change of title to the property.

Fractional ownership - This is ownership that is divided by shares in the case of multiple owners.

Sublet - The legal relationship between the tenant and the subtenant. The lessee gives the leased item or part of it to the subtenant for use in return for payment. The rented apartment or part thereof cannot be sublet without the written consent of the landlord.

Claim - The right of the creditor to demand performance from the debtor.

Pledge insurance - Mortgage and building society loans require insurance of the mortgage itself.

Location of the property and cadastral area - determining their location in relation to other properties and cadastral areas (Act 344/1992 Coll.).

Fee - Financial remuneration for the granting, administration and management of the loan.

Land - land is a part of the earth's surface separated from neighbouring parts by the boundary of the territorial administrative unit or the boundary of the cadastral territory, ownership boundary, possession boundary, boundary of types of land, or boundary of the land use (Act 344/1992 Coll.).

Legal personality - Capacity to have rights and obligations.

Legal entity (PO) - Legal entities are a) associations of natural or legal persons, b) special purpose property associations, c) units of local government, d) other entities provided for by law.

Holidays to repay the principal - An agreed period of time during which only the interest on the loan is paid.

PRIBOR - Prague Interbank Offered Rates - translated as Prague Interbank Offered Rate. The interest rate at which banks lend to each other.

Privatization - Privatisation is the transfer of state property to private ownership, the opposite of privatisation is nationalisation.

Declaring the loan due and payable - If the debtor fails to comply with the agreed terms even after the creditor's request, then the benefit of the repayments is withdrawn.

Owner's declaration - Based on the declaration of the owner of the house, the house as a whole is divided into units. This declaration is entered into the Land Registry.

Rent - Based on the contract, the landlord allows the tenant to use a residential or non-residential unit (e.g. a flat in private ownership) for an agreed amount and for an agreed period of time. The lease of an apartment is regulated by the Civil Code.

Pre-mortgage loan, construction loan - This is a short-term loan that can later be converted into a mortgage loan.

Loan accessories - These are contractual interest and fees.

Non-agricultural land - This is a type of land that is not suitable for agricultural use (e.g. water areas, etc.)

Agricultural land - This is a type of land that is intended for agricultural use.

Reconstruction - Rebuilding to the original state.

Holiday cottage - an older building that was built for housing purposes and later separated from the housing stock and relicensed for the purpose of individual recreation.

Holiday cottage - a building intended for individual recreation with a built-up area of not more than 360 m3 and a built-up area of not more than 80 m2 including verandas, entrances and underground terraces; it may be underground and have not more than one storey and an attic.

Revitalization - In the case of buildings, this involves modernising or insulating buildings.

The sprawling building - a building in at least such a stage of disintegration that the structural, technical and functional arrangement of the first floor is already visible, if it has not yet been assigned a description or registration number, and for a building that is not assigned a description or registration number, if its use has not yet begun (Act 344/1992 Coll.).

APR - Annual Percentage Rate of Charge - this is a percentage that allows you to evaluate whether a loan is advantageous or disadvantageous. It expresses the percentage that the borrower pays to the lender per year. APR is related to the repayments, administration and other costs associated with taking out a loan.

Liability - The guarantor undertakes to assume this obligation in the event that the debtor fails to satisfy the creditor's claim. The guarantor shall become a guarantor in the event of a unilateral written declaration.

Guarantor - This is a legal or natural person who assumes the obligation to satisfy the creditor's claim in the event that the debtor himself is unable to satisfy it.

Penalty fee - Penalties for non-compliance with the terms of the contract.

Tariff - Price list of all fees associated with the administration and management of the loan.

Association of Unit Owners (SVJ) - The entity in charge of all rights related to the management, operation and repair of the common parts of the house. It is a legal entity that is entitled to carry out activities related to the operation of the common parts of the house, serving also other persons (legal and natural).

Transfer Agreement - A bilateral contract between the transferor and the transferee, which must be in writing and must contain all the particulars (identification of the parties, subject of the transfer). It serves the purpose of the transfer - acquisition (e.g. transfer of rights and obligations related to membership in the cooperative,...).

Contractual penalty - Penalty amount for failure to meet the agreed terms.

Cadastral map image - A public document in the form of an image of a cadastral map, which is made manually, reprographically or by computer.

Common parts of the house - Commonly used areas such as stairs, drying room, cellar, all vertical water, waste, gas, electricity and other.

Community property (SJM) - This is property acquired jointly during the marriage. Ownership is divided equally. An exception is property acquired by inheritance, gift, restitution or the right to property acquired during the marriage can be contractually regulated and the acquired property belongs to one spouse only.

Co-debtor - A co-borrower is someone who is willing to share the repayment of the debt with the debtor.

Consumer credit - A loan that is granted to individuals and is intended for the purchase of durable goods or to pay for a particular service, such as study, vacation, etc..

Building Savings Bank - It is a money institution that does not have the right to dispose of or deal in client deposits and must deposit client deposits only with reliable money institutions. Furthermore, it can only purchase liquid government securities.

Construction loan - A bridge loan that is provided to start or complete construction and is secured by a lien on the land and an insurance policy. Once the building is completed and approved, it is further repaid from a regular mortgage loan.

Statement - A receipt confirming receipt of the money.

Time deposit - It is used to earn interest on the deposit and may not be disposed of during the contractual period. It is usually a one-off deposit.

Parcel type - We distinguish two types of parcels, a cadastral parcel (CN), which is registered with all data, or a simplified parcel (ZE), which is registered with only selected data.

Interest - A monetary reward that is given for the loan of funds.

Default interest - The amount due to the creditor if the debtor is in default. It has only a coercive function.

Interest rate - The interest rate expresses the proportion of interest on the amount borrowed, or the ratio of interest to the amount of money borrowed, usually in % per annum p.a.

Interest rate - The interest rate indicates how much of the principal the borrower is required to pay over a specified period of time for the loan. It is expressed as a percentage.

Interest payment - This is only the interest payment on the loan for the agreed period.

Interest period - The period of time during which interest is paid in addition to the principal repayment.

Types of interest rates –

Basic - the lower limit of the bank, the bank sets itself, changes in the basic are caused by changes in money market rates.

Discount - announced by the CB and used when lending to the OB or the state, credit against repossession of bills, the discount is a managed rate and not a market rate, it is only for banks and the state.

PRIBOR interbank rate - it is determined on the basis of fixing the interest rates offered by selected banks operating on the interbank deposit market in the Czech Republic. It is set by the CB.

Certified signature - A signature that is executed and authenticated before an official body.

Loan property - This is property acquired or renovated (modernised) through a loan.

Credit limit, framework - There is a limit that the amount of the loan must not exceed.

Credit promise - A bank's written promise to provide a loan to a client if the client meets the agreed terms.

Credit account - An account with the lender (bank) where the entire course of drawdown and repayment is recorded.

Recognition of the signature as your own - A statement by the signatory that it is his signature, thereby authenticating the signature.

Burden in rem - Restrictions on the debtor's right to the property. Requires the owner to suffer something, refrain from something, or do something for the benefit of someone else.

Creditor - Entitled to demand performance from the debtor.

Vignetting - Limitation of the right of disposition.

Deposit - A form of registration of the right to real estate, which indicates the creation, termination or change of the right to real estate on the basis of the decision of the cadastral office on the authorisation of the entry.

General Terms and Conditions - Terms and conditions governing the relationship between the parties. They are annexed to the Contract and supplement the terms and conditions not specified in the Contract.

Plot size - the expression of the areal content of the projection of the land in the imaging plane in areal metric units; the size of the area is derived from the geometric definition of the land and is rounded to whole square metres. The size of the parcel shall be recorded with the precision of the methods by which it was determined; its refinement shall not affect the legal relations to the land (Act 344/1992 Coll.).

Securing a loan - By securing the loan, the lender receives a guarantee that the outstanding loan will be paid. There are several types of collateral, but in the context of a mortgage loan, the most common type of collateral is a lien on the property.

Flag - The object of the pledge serves as collateral in case the debtor fails to pay the debt.

The Pawnbroker - The owner of the subject of the pledge.

Lien - Method of securing the debt (including accessories) for the entire repayment period. The creation of the pledge is written in the pledge agreement and is entered into the land register.

Pledge creditor - The one who has accepted the object of the pledge for the purpose of securing the claim.

Binding data of the Land Registry - Data in the Land Registry that are intended to be binding for legal acts on real estate that are listed in the Land Registry.

Simplified parcel registration - Temporary set of descriptive information of the cadastre. It does not contain all the data that are obligatory. It is kept in a simplified way and the boundaries of the parcels thus kept are not part of the cadastral maps, only of the maps of previous records, e.g. land cadastre, real estate registry, etc.

Method of protection of real estate - Definition of the type of property protection, for example, monument protection and others.

Method of use of real estate - Information that is listed in the Land Registry and describes the use of a particular property.

Founder - The heir is the deceased natural person whose death transfers his/her rights and obligations to his/her heirs.

Applicant for a loan - A person who has the capacity to perform legal acts and who is a permanent resident of the Czech Republic. Applicants for a loan may also be several natural persons (co-applicants) or a legal entity.

Gardening cottage - a building intended for individual recreation with a built-up area of not more than 110 m3 and a built-up area of not more than 25 m2 including verandas, entrances and underground terraces; it may be underground and have not more than one storey and an attic.