|
| | |
Truth in Lending Act
Truth in Lending Act A federal law that requires lenders to provide certain information so borrowers can compare one loan to another.
RELATED TERMS--------------------------------------
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
SIMILAR TERMS--------------------------------------
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.
PREVIOUS AND NEXT TERMS--------------------------------------
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
The person who creates a trust and gives the instructions to the trustee.
Truth in Lending Act
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.
Two to four family property
A piece of property that is owned by one person but provides housing for up to four households.
This dictionary contains 6433 terms. |
|
|
