Real Estate Terms
Tax Exempt Property: A property that is not subject to taxation
Tenancy: The legal right to possession of property
Tenancy in Common: A type of joint ownership of property by two or more persons with no right of survivorship
Title: A legal document which provides notice and evidence of ownership of property
Title Company: A company that researches for title defects on a property and certifies that a property is clear of liens prior to the sale of the property
Title Insurance Policy: A policy that protects the purchaser, mortgagee or other party against losses due to defects on the title of property
Title Search: The researching of the history of title on a property usually done by the Title Company
Trustee: One who is appointed to control property for the benefit of another
Truth in Lending: A federal law requiring the full disclosure to borrowers of all terms, conditions and costs of obtaining a mortgage from a lender
Real Estate Terms beginning with S
Real Estate Terms beginning with U