Real Estate Glossary Terms Beginning With – T

Updated: November 22, 2021

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Terms Beginning With - T

Property Development & Investment Glossary, Terms & Definitions

Take-out mortgage loan

A construction loan that is taken out over a set period of time.

Tax

A charge collected by the government on a regular basis and depending on the relative worth of the thing levied.

Taxable income

The amount of income that is due to tax after all permissible deductions have been made.

Tax deductible

An cost that may result in a reduction in taxable income.

Tax deferred income

The cash flow received in a particular year for which no taxes are now owed due to tax sheltering.

Tax-free exchange

An exchange of property for similar property that has no immediate tax consequences since the taxes are delayed.

Tax map

A map depicting the location and size of property lots liable to property taxes.

Tax preference items

The alternative minimum tax is calculated by adding certain forms of income or deductions to the adjusted gross income.

Tax rate

The proportion of tax levied to the amount levied.

Tax sale

The sale of a property that has been seized due to non-payment of taxes.

Tax sheltered

Income that does not have to be taxed.

Tenant

One who pays rent in exchange for the use of real land.

Tenancy at sufferance

When a lease expires and the tenant stays on the premises, a tenancy is created.

Tenancy at will

A permission granted by the owner to use or occupy his or her property at his or her discretion.

Tenancy by the entirety

An estate that exclusively exists between a husband and wife, with equal rights of possession and pleasure and the right of survivorship for their combined lifetimes.

Tenancy for years

A lease that is for a specific amount of time.

Tenancy in common

Without the right of survivorship, ownership by two or more persons who have undivided interests in a specific piece of property. It is not necessary for the undivided interests to be equal.

Tenancy in severalty

The possession of property by a single individual or legal body.

Tender

To submit a proposal.

Term

The amount of time a debt must be repaid within.

Terminal value

The market value of an investment at the moment it is sold.

Terms

The terms and conditions set forth in a contract.

Testament

A determination.

Testate

Making a legally binding will.

Testator

Someone who writes a will.

Theme/specialty center

A shopping mall with a variety of formats, sizes, and market orientations. The architectural architecture of these centres is typically consistent throughout. These areas are typically anchored by restaurants and entertainment venues that cater to both visitors and locals. The renters frequently have interesting items to sell.

Time is of the essence

A contract clause requiring that any references to certain dates and times of day stated in the contract be construed precisely.

Time sharing

A kind of ownership in which a property is held by a group of people for a set amount of time.

Time value of money

The idea that the worth of money is determined by when it is received.

Title

A legal document that establishes a person's right to own real estate.

Title company

A firm that investigates a property's title before issuing title insurance.

Title defect

Other people's legal right to claim property or make claims on the owner.

Title insurance

Insurance against the loss or harm caused by faults in the title to a specific piece of property.

Title report

A document that shows the status of the title at the moment.

Title search

An investigation of public data, legislation, and court rulings to find current facts about property ownership.

Title theory

The notion of a mortgage as a transfer of title from the borrower to the lender, according to this theory of mortgage law.

Topography

Hills, valleys, and other aspects of the land's surface.

Townhouse

A sort of attached or semi-detached row home that houses a single family.

Township

A land area of six square miles.

Tract

A subdivision of land that is numbered and documented with the county recorder's office in various states.

Trades

Carpenters, plumbers, and other workers are classified as carpenters, plumbers, and so on.

Trade fixtures

Articles that a tenant installs under the conditions of a lease and then removes before to the lease expiration.

Traffic flow study

A traffic consultant conducted a study to examine vehicular traffic patterns. An interior space planner conducted research into the interconnections between various departments and activities in order to improve function and communication.

Traffic report

A list of people who have enquired about renting a home.

Transaction costs

The fees connected with purchasing and selling real estate.

Transfer tax

A tax levied on the sale or transfer of an asset or a mortgage.

Triple A tenant

A prime tenant is a renter who has a triple A credit rating.

Triple net lease

A lease in which the lessee pays all taxes, insurance, and maintenance costs while the lessor receives a net sum.

Triplex

Three interconnected residential units under one roof.

Trust

A transaction in which a property is given to or retained by a third party or trustee.

Trust deed

A transfer of property to a third party for the purpose of holding it for the benefit of another.

Trustee

A trustee is a person who holds property in trust for another.

Trustees deed

A deed signed by a trustee that transfers trust property.

Trustor

A person who gives property to a trustee.

Turnaround property

A property that can be made to return a positive cash flow with imaginative planning and hard effort.

Turnkey project

A type of development in which a developer completes a project and then sells it to a buyer.

Glossary Index

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