Friday, May 3, 2024, 7:43 PM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
T
TAKE-OUT FINANCINGPermanent or long-term financing of individual condominium units for their respective buyers. |
TAX DEEDA deed for property sold by a government unit for non-payment of assessed taxes. |
TAX LIENA claim against real property going into effect when taxes are assessed against that property. |
TAX SALEA sale of property, usually at auction, for non-payment of assessed taxes. |
TAX, TAXATIONA charge or burden to support government, levied upon persons or property by legislative authority. |
TENANCYA state of ownership. |
TENANCY AT SUFFERANCEA tenancy arising when the tenant wrongfully holds over after the expiration of his term. The landlord has the choice of evicting the tenant or accepting him for a similar term and under the conditions of the previous holding. |
TENANCY AT WILLPossession and occupancy of land terminable at the will of either party. |
TENANCY BY THE ENTIRETYA tenancy held by husband and wife giving each the equal right to possession and enjoyment during their joint lives, along with the right to sole ownership upon the death of either partner. |
TENANCY FOR YEARSLeasing of a property for a fixed period of time. |