The meanings attributed to terms set out for the purpose of explanation only and are not necessarily valid legal definitions for other purposes.
Where precise definitions are sought appropriate statutes or authorities should be studied. See Greg Stilanou, Land Titling Law and Practice in NSW, Lawbook Co. 2013 [Definitions on pages xxvii – xxxi].
Bank (of stream): The limit of the bed of any lake or stream. Can be stated as the high bank, the low bank etc depending on circumstances.
Bankrupt: A financially depleted person, ie. a person: against whose estate a sequestration (seizure) order has been made, or who has become bankrupt by virtue of the presentation of a debtor's petition.
Bed (of stream): The whole of the soil of any lake or stream between the banks including that part which is alternatively covered and left bare through fluctuations in normal (but not flood) water flow.
Bench Mark: A survey mark used to establish the relative height of a feature in a plan - usually measured as a Reduced Level, AHD.
Beneficiary: A person acquiring land or other forms of property under a will.
Bill of Sale: A mortgage of goods and chattels (personal property) given in security for money borrowed - does not affect land.
Blaze: A prominent survey mark cut into a tree.
Body Corporate: The former management body of the common property under the Conveyancing (Strata Titles) Act 1961 and the Strata Titles Act 1973. Now known as the Owners Corporation.
Bona Fide: In good faith.
Bounds: The limits of a parcel of land, especially by reference to those lands and features by which it is bounded - see also Metes, hence metes and bounds descriptions of land.
By Laws: By Laws are rules or regulations governing a Strata or a Community Development scheme which have been determined by the developer, or are statutory By Laws (exist at law). They apply to Strata Plans and Community, Neighbourhood and Precinct Plans and are set out in Management Statements.