REAL ESTATE DICTIONARY

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TACKING

An-adverse possessor has passed his rights to another and his time of possession counts for the new possessor.

TAX DEED

A deed given where property has been purchased at a sale to the public of property for nonpayment of taxes.

TAX LIEN

A government claim for unpaid real estate tax.

TAX SALE

A sale of property, usually at auction, for nonpayment of taxes assessed against it.

TEMPORARY CONSTRUCTION

A building suitable and appropriate to fill a need for a short period (5 years or less) without regard to level of maintenance, the designs and details of which provide a minimum facility with maximum initial economy

TEMPORARY INJUNCTION A court order that freezes the status quo for an extended time period, typically until a full court trial on the merits of a case can be held. It often requires posting a bond, although many states’ laws waive the bond requirement in cases involving the foreclosure of a home
TEMPORARY RESTRAINING ORDER A court command that freezes the status quo for a short period of time until other legal relief is awarded or a settlement between the litigants can be reached
TENANCY AT WILL A license to use or occupy lands and tenements at the will of the owner

TENANCY IN COMMON

Co-ownership of real property by two or more persons, each entitled to possession according to his proportionate share. Unlike joint tenancy, there is no right of survivorship. See also JOINT TENANCY, TENANCY BY ENTIRETY, RIGHT OF SURVIVORSHIP.

TENANCY BY THE ENTIRETY

Joint ownership by husband and wife, created by conveyance to husband and wife, who possess the property jointly. The property goes entirely to the survivor and is liable only for joint debts of husband and wife, not individual debts. Divorce severs the tenancy. See also JOINT TENANCY, TENANCY IN COMMON RIGHT OF SURVIVORSHIP.

TENANT

One who holds or possesses land or tenements by any kind of title, either in fee, for 'life, for years, or at will. In a popular sense, the one who has temporary use and occupation of lands or tenements which belong to another, the duration and other terms of whose occupations are usually defined by a lease, while the parties thereto are placed in the relationship of landlord and tenant.

TENANT AT SUFFERANCE

One who comes into possession of lands by lawful title but keeps them afterwards without any title, after his interest has ended.

TENANT AT WILL

A license to use or occupy lands and tenements at the will of owner, but for no fixed term. The tenancy can be terminated at will by the owner.

TENURE IN LAND

The mode or manner by which an estate in lands is held

TERM

The extent of time for which an estate is granted. For example, the period which is granted for the lessee to occupy the premises; it does not include the time between making the lease and the tenant's entry.

TERMINATION

End of a lease or contract, usually before the anticipated time; termination may be by mutual agreement or by exercise of one party of a legal remedy due to default of the other party.

TERMINATION FOR CAUSE

Termination of an outgrant because of the lessee's violation of a condition of the grant.

TERMINATION AT WILL

Termination of an outgrant at will by the lessor. All Army outgrants may be terminated at will.

TESTATE

The condition of one who leaves a valid will at their death.

THREATENED SPECIES

Plants and animals likely to become endangered species, as listed by the Department of Interior, within the foreseeable future and throughout a significant portion of their ranges.

TIMBER MANAGEMENT

Production and identification of salable wood products from forests on a sustained yield basis: sawtimber, pulpwood, poles, ties, posts, piling, and other products.

TIME IS OF THE ESSENCE

One of the essential requirements to the forming of binding contract; it contemplates a punctual performance.

TITLE

The right to or ownership of lands. Also, the evidence of ownership. Title to property encompasses all the bundle of rights an owner possesses

TITLE DEFECT Unresolved claim against the ownership of property that prevents presentation of a marketable title. Such claims may arise from failure of the owner’s spouse, or former part owner, to sign a deed, current liens against the property, or an interruption in the title’s records of a property

TITLE INSURANCE

Indemnity against loss or damage resulting from defects in or liens on a title at the date of the insurance.

TITLE REPORT Document indicating the current state of the title, such as easements, covenants, liens, and any other defects. The title report does not describe the chain of title
TITLE SEARCH An examination of the public records to determine the ownership and encumbrances affecting real property

TOPO (GRAPHIC) MAP

A map showing physical features and relative elevations of the area surveyed. The elevations are graphically depicted by contour lines.

TOWNSHIP

A territorial subdivision, six miles long, six miles wide, and containing thirty-six sections, each one mile square.

TRACT

An area of land contained in one description.

TRACT I OWNERSHIP DATA

A historical record of a particular tract of land, confirmed by the owner or someone familiar with the land and recorded on ENG Form 900.

TRADE FIXTURES

Articles of Personal property annexed to real property but which are necessary to the carrying on of a trade and are removable by the owner.

TRANSFER

Change of jurisdiction over real property from one Federal agency or department to another, including military departments and defense agencies.

TRUE POINT OF BEGINNING

The point from which a legal description of property begins and ends.

TRUST DEED OR DEED OF TRUST

A deed conveying land to a trustee as collateral security for the payment of a debt; upon payment of a debt secured thereby, the deed of trust is released; upon default, the trustee has the power to sell the land and pay the debt

TRUSTEE

One why holds property in trust for another to secure the performance of an obligation.

TRUSTEE'S DEED A type of deed issued to the buyer at a foreclosure by the trustee
TRUSTEE'S SALE A non judicial action whereby a trustee may auction and sell property secured by a Deed of Trust subsequent to a default in the terms and conditions of the loan
TRUSTEE'S SALE GUARANTEE A title insurance policy for the benefit of the trustee handling a foreclosure action
TRUTH IN LENDING ACT A federal law that requires lenders to make certain disclosures to borrowers concerning a loan, such as the interest, the annual percentage rate, the total cost of the loan, the total of all payments and the use of disclosure forms at the loan application and closing

TURNOVER ORDER

A court command to a debtor to give title to certain assets to a creditor

 

COMPANY OVERVIEW
CCFG Investments provides alternative financing solutions for real estate investors, developers, and investment property owners. Our creative and flexible lending programs are the direct result of our involvement in more than 500 million dollars of real estate.
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