Friday, May 17, 2024, 12:34 AM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
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TOWNSHIPA section of land established by government survey that is six miles long, six miles wide and containing 36 sections, each one mile square. |
TRADE FIXTUREArticles of personal property annexed to real property, but which are necessary to the carrying on of a trade and are removable by the owner or tenant when he leaves. |
TRANSACTTo conduct business affairs; to carry out, perform or manage. |
TRANSFER TAXThe tax required by a governmental agency when real property is transferred from one party to another. |
TRESPASSWrongful invasion of land by one having no lawful right to enter. |
TRUST DEEDA deed given by borrower to trustee to be held pending fulfillment of an obligation. |
TRUSTEEOne who holds property in trust for another to secure the performance of an obligation. |
TRUSTORThe borrower in a trust agreement. |
TRUTH-IN-LENDINGA federal law designed to let borrowers know the exact cost of obtaining credit; a disclosure device. |
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UNDIVIDED INTERESTTitle to property owned by two or more persons, none of whom are entitled to claim or possess any specific part. |