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Trust funds
Trust funds Money or other things of value that are received by a broker or salesperson on behalf of a principal or any other person, and which are held for the benefit of others in the performance of any act(s) for which a real estate license is required.
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Value
The measure of the monetary equivalent of a property. The four essential elements of value are utility, scarcity, demand and transferability.
Broker
A person who acts as an intermediary between two or more parties in connection with a transaction for a fee or commission.
Salesperson
A person employed directly or indirectly by a licensed real estate broker to perform various tasks and responsibilities.
Principal
1) The outstanding balance of a loan. 2) A party to a real estate transaction. 3) The head of a real estate firm.
Performance
The quarterly changes in fund or account values attributable to investment income, realized or unrealized appreciation, and the total gross return to the investors both before and after investment management fees.
Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
License
1) A privilege or right granted to a person by a state to operate as a real estate broker or salesperson. 2) The revocable permission for a temporary use of land.
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Truss
A roof structural support system made up from "2 by" wood components that are attached using press-on metal plates.
Trust
An arrangement whereby legal title to property is transferred by the grantor (or trustor) to a person called a trustee, to be held and managed by that person for the benefit of another, called a beneficiary.
Trust account
An account used by a real estate broker or escrow agent to handle earnest money, funds set aside for repairs and other money that the buyer and seller put up before closing.
Trust deed
A legal document in which title to property is transferred to a third-party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary (lender).
Trust deed lien
A lien on the property of a truster that secures a deed of trust loan.
Trust fund bank account
An account set up by a broker, attorney or other agent at a bank or other recognized depository, into which the broker deposits all funds entrusted to the agent by the principal or others.
Trust ledger
Ledger where a property manager records monies paid out on behalf of an owner.
Trustee
A party who is given legal responsibility to hold property in the best interest of or "for the benefit of" another.
Trustee's deed
A deed executed by a trustee conveying land held in a trust.
Trustor
The person who creates a trust and gives the instructions to the trustee.
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Trust
An arrangement whereby legal title to property is transferred by the grantor (or trustor) to a person called a trustee, to be held and managed by that person for the benefit of another, called a beneficiary.
Trust account
An account used by a real estate broker or escrow agent to handle earnest money, funds set aside for repairs and other money that the buyer and seller put up before closing.
Trust deed
A legal document in which title to property is transferred to a third-party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary (lender).
Trust deed lien
A lien on the property of a truster that secures a deed of trust loan.
Trust fund bank account
An account set up by a broker, attorney or other agent at a bank or other recognized depository, into which the broker deposits all funds entrusted to the agent by the principal or others.
Trust funds
Trust ledger
Ledger where a property manager records monies paid out on behalf of an owner.
Trustee
A party who is given legal responsibility to hold property in the best interest of or "for the benefit of" another.
Trustee's deed
A deed executed by a trustee conveying land held in a trust.
Trustor
The person who creates a trust and gives the instructions to the trustee.
Truth in Lending Act
A federal law that requires lenders to provide certain information so borrowers can compare one loan to another.
This dictionary contains 6433 terms. |
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