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20 Cards in this Set
- Front
- Back
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TAX DEED
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A DOCUMNET USED TO CONVEY REAL PROPERTY WHEN THE GOVERMENT(ACTING AS GRANTOR)SELLS A PROPERTY FOR DEFAULT OF TAX PAYMENTS
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TAX LIEN
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A GENERAL LIEN IMPOSED AGINST A PARCEL OF REAL ESTATE FOR PAYMNET OF TAXES
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TAX RATE
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THE RATE THAT IS APPLIED TO THE ASSESSED VALUE TO COMPUTE THE ANNUAL REAL ESTATE TAXES
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TAX SALE
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SALE OF A PROPERTY BY A TAXING AUTHORITY AFTER A PERIOD OF NONPAYMNET OF TAXES
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TENANCY AT SUFFERENCE
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THE TENANCY THAT EXISTS WHEN A TENANT CONTINUES TO POSSESS THE LEASED PREMISES AFTER THE LEASE HAS EXPIRED AND AGINST THE CONSENT OF THE LANDLORD
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TENANCY AT WILL
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THE TENANCY THAT EXISTS WHEN A TENANT CONTINUES TO BE IN POSSESSION OF THE LEASED PREMISES AFTER EXPIRATION OF LEASE BY PERMISSION OF THE LANDLORD
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TENANCY BY ENTIRITY
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A JOINT TENANCY BETWEEN HUSBAND AND WIFE WITH BOTH HAVING AN EQUAL, UNDIVIDED INTEREST IN THE PROPERTY
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TENANCY FOR YEARS
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A LESS THAN FREE HOLD ESTATE WHERBY THE PROPERTY IS LEASED FOR A DEFINATE PERIOD OF TIME
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TENANCY IN COMMON
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A FORM OF OWNERSHIP BETWEEN TWO OR MORE PERSONS WHERBY THEY HOLD AN UNDIVIDED INTEREST IN THE WHOLE PROPERTY-UPON THE DEATH OF A COTENANT THE INTEREST PASSES TO HEIRS OR DEVISEES
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TESTATE
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STATUS OF A DECEASED PERSON WHO HAS EXECUTED A VALID WILL
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TIME IS OF THE ESSENCE
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A PHRASE USED IN A CONTRACT SETTING FORTH A SPECIFIC DATE BY WHICH ALL PARTIES MUST PERFORM THEIR OBLIGATIONS
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TITLE INSURANCE
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A CONTRACT IN WHICH A TITLE COMPANY BEARS THE RESPONSIBILITY OF LOSS ARISING FROM DEFECTS IN A TITLE OR ANY LIENS OR ENCUMBRANCES AFFECTING TITLE
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TITLE SEARCH
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EXAMINATION OF PUBLIC RECORDS TO DETERMINE ANY DEFECTS TO A TITLE OR LIENS AND ENCUMBRANCES THAT WOULD AFFECT TITLE
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TORRENS SYSTEM
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A METHOD OF REGISTERING LAND IN WHICH OWNERSHIP IS VERIFIED AND TITLE STATUS ESTABLISHED-ELIMINATES NEED FOR ADDITIONAL SEARCH OF PUBLIC RECORDS
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TOWNSHIP
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A SIX MILE SQUARE TRACT OF LAND DETERMINED BY A GOVERMENT SURVEY
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TRADE FIXTURE
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ITEMS OF PERSONAL PROPERTY ATTACHED TO PREMISES BY A TENENT AS A NECESSARY PART OF HIS BUSINESS
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TRANSFER TAX
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TAX STAMPS THAT ARE REQUIRED TO BE AFFIXED TO A DEED AT THE TIME OF RECORDING
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TRUST
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AN AGREEMENT WHERBY TITLE TO REAL ESTATE IS TRANSFERRED BY THE GRANTOR TO A THIRD PERSON(TRUSTEE) TO BE HELD FOR ANOTHER(BENEFICIARY)
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TRUST DEED
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USED IN SOME STATES THAT CONDITIONALLY CONVEYS TITLE TO THE LENDER UNTIL SATISFACTION OF THE MORTGAGE
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TRUTH IN LENDING LAW
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A FEDERAL LAW WITH PURPOSE OF PROVIDING THAT BORROWERS CAN RECIEVE INFORMATION REGUARDING THE COST OF CREDIT IN A WAY THEY CAN COMPARE VARIOUS CREDIT TERMS-REQUIRES ALL FINANCE CHARGES AND INTEREST RATES THAT MAKE UP ANNUAL PERCENTAGE RATE BE DISCLOSED
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