Legal Glossary
Plain-English definitions of common legal terms
We use these terms regularly when working with clients. Each entry explains what the term means in Queensland law and where it commonly comes up.
BCIPA
Originally the Building and Construction Industry Payments Act 2004 (Qld) — the statutory adjudication scheme letting builders, subcontractors and suppliers recover progress payments quickly. Now operates under the Building Industry Fairness (Security of Payment) Act 2017 (Qld), though the term "BCIPA" remains in common use.
PEXA
Property Exchange Australia — the national electronic conveyancing platform used to settle most property transactions in Queensland.
PPSA
The Personal Property Securities Act 2009 (Cth) — the federal scheme governing security interests over personal property in Australia.
Probate
A grant from the Supreme Court of Queensland confirming a will is valid and authorising the executor to administer the deceased's estate.
Testamentary Trust
A trust created by a will that comes into existence on death, often used for asset protection and tax-effective distribution to beneficiaries.
Unfair Preference
A payment or transfer made by an insolvent company to a creditor in the lead-up to liquidation that may be recovered by the liquidator under the Corporations Act 2001 (Cth).