A disposition or declaration by which the person making it (the testator) provides for the distribution or administration of property after his death.


In relation to property dealings, generally means a Writ of Execution emanating from a Court, which when registered in the Register of Causes, Writs and Orders creates a charge on the property of the Execution Debtor where the land is held under Common Law title. Where the land is held under the Real Property Act 1900 the writ must be registered under that Act to have effect - it does not create an interest in land but generally operates to prevent the registration of dealings for a period of three months. However, there are exceptions and this area of law is complex requiring detailed study.


Weighted Average Lease Expiry (or weighted average lease to expiry), is a term that is more commonly seen its abbreviation - WALE.
It is a measure of calculating the average lease length weighted to the lease value.
For example, for a building with 3 different tenants, each with different lease terms where:
Tenant 1: Occupies 10% of the rentable area and the lease expires in 3 years.
Tenant 2 occupies 60% of the rentable area and the lease expires in 5 years,
Tenant 3 occupies 30% of the rentable area and the lease expires in 7 years.
Therefore the WAYL for this property calculates as ((0.1 x 3) + (0.6 x 5) + (0.3 x 7) = 5.4 years.