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Trustor
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.
Trustee
A party who is given legal responsibility to hold property in the best interest of or "for the benefit of" another.
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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 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.
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.
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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
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.
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
Truth in Lending Act
A federal law that requires lenders to provide certain information so borrowers can compare one loan to another.
Truth in Lending Law
A body of federal law effective July 1969 as part of the Consumer Credit Protection Act, and implemented by the Federal Reserve Board's Regulation Z. Amended in 1982 by the Truth-in-Lending Simplification and Reform Act and later amendments, it's main purpose is to ensure that borrowers and customers in need of consumer credit are given meaningful information with respect to the cost of credit.
Truth in Lending Statement (Regulation Z)
A federal government regulation that provides details of the cost of obtaining a mortgage loan.
Tuck-point
The process of removing old mortar from between bricks and replacing it with new mortar.
Turn key project
The construction of a project in which a third party is responsible for the total completion of a building, or for the construction of tenant improvements to the customized requirements and specifications of a future owner or tenant.
This dictionary contains 6433 terms. |
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