Any property which is not taxed.
TENANCY
The right to occupy a building or unit.
TENANCY IN COMMON
A form of holding title, whereby there are two or more people on title to a
property, ownership does not pass on to the others upon the death of one
individual.
THIRD PARTY ORIGINATION
When a lender uses a third party to originate and package loans for sale to the
secondary market (Fannie Mae, Freddie Mac).
TITLE
A specific document which serves as proof of ownership.
TITLE COMPANY
An organization which researches and certifies ownership of real estate before it
is bought or sold. Title companies also act at the facilitator ensures all parties
are paid during the real estate transaction.
TITLE INSURANCE
A policy which insures a property owner should a prior claim arise against the
property after the purchase has been completed. This also covers a lender
should a question of ownership arise.
TITLE SEARCH
The process whereby the TITLE COMPANY researches a properties title history
and ensures that no outstanding claims exist.
TRANSFER OF OWNERSHIP
Any means by which the ownership of a property changes hands.
TRANSFER OF TAX
Taxes payable when title passes from one owner to another.
TRAP
A bend in water pipe.
TRUSTEE
A fiduciary who holds or controls property for the benefit of another.
TRUTH IN LENDING
A federal law requiring full disclosure by lenders to borrowers of all terms,
conditions and costs of a mortgage.
TUDOR
A style of architecture typified by exposed stone, wood and brick construction.
Similar in style to English manor homes.
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Each Office Independently Owned and Operated
Information presented on this website is believed reliable but is not guaranteed
Copyright © 2004-2006 All Rights Reserved
CENTURY 21 Lindsey & Pauley
1745 Hwy 53 West · Jasper, Georgia 30143
Office: 706-692-3533 · Fax: 706-692-2366
info@lindseyandpauley.com
2004 CENTURY 21 Real Estate Corporation © and sm trademark and servicemark of
CENTURY 21 Real Estate Corporation. Equal housing opportunity.
