T words

Question 1

Tax

Answer 1

Enforced charge extracted of persons, corporations and organizations by the government to be
used to support government services and programs.

Question 2

Tax Deed

Answer 2

The deed given to a purchaser at a public sale of land held for nonpayment of taxes. It
conveys to the purchaser only such title as the defaulting taxpayer had.

Question 3

Tax Sale

Answer 3

Sale of property after a period of nonpayment of taxes.

Question 4

Tenancy at Will

Answer 4

A property tenure that can be terminated at any time by either the tenant or the
owner (landlord). It exists without a contract or lease, and is unspecific in duration or the exchange of
payment.

Question 5

Tenancy in Common

Answer 5

An ownership of realty by two or more persons, each of whom has an undivided
interest, without the “right of survivorship”.

Question 6

Tenancy in Partnership

Answer 6

An ownership relation that exists between partners under the legislation
governing partnerships.

Question 7

Tentative Map

Answer 7

The Subdivision Map Act requires subdivisions to submit initially a tentative map of
their tract to the local planning commission for study. The approval or disapproval of the planning
commission is noted on the map. Thereafter, a final map of the tract embodying any changes requested
by the planning commission is required to be filed with the planning commission.

Question 8

Testate

Answer 8

Having made a valid will before one dies

Question 9

Testator

Answer 9

One who makes a will.

Question 10

The Right of Lateral Support

Answer 10

The right of a land owner to have the natural physical support of the
adjoining piece of land.

Question 11

Time is of the Essence

Answer 11

A condition of a contract expressing the essential nature of performance of the
contract by a party in a specified period of time.

Question 12

Time‐share Project

Answer 12

A form of subdivision of real property into rights to the recurrent, exclusive use or
occupancy of a lot, parcel, unit, or segment of real property, on an annual or some other periodic basis,
for a specified period of time.

Question 13

Time‐share Use

Answer 13

A license or contractual membership right of occupancy in a timeshare project which
is not coupled with an estate in the real property.

Question 14

Title

Answer 14

Evidence of the right to possess property.

Question 15

Title Insurance

Answer 15

Insurance to protect a real property owner or lender up to a specified amount against
certain types of loss (ex: defective or unmarketable title).

Question 16

Title Search

Answer 16

An examination of public records, laws, and court decisions to disclose the current facts
regarding the ownership of real estate.

Question 17

Tort

Answer 17

Any wrongful act (not involving a breach of contract) for which a civil section will lie for the
person wronged.

Question 18

Tort Liability

Answer 18

A legal obligation of one party to a victim as a result of a civil wrong or injury.

Question 19

Township

Answer 19

In the survey of public lands of the United States, a territorial subdivision six miles long, six
miles wide and containing 36 sections, each one mile square, located between two range lines and two
township lines.

Question 20

Trade Fixtures

Answer 20

Articles of personal property annexed by a business tenant to real property which are
necessary to the carrying on of a trade and are removable by the tenant.

Question 21

Transfer Disclosure Statement (TDS)

Answer 21

Describes the condition of a property and, in the case of a sale,
must be given to a prospective buyer as soon as practicable and before transfer of title.

Question 22

Trespass

Answer 22

The wrongful entry on to the land on another, either in person or by instrumentality.

Question 23

Trust Funds

Answer 23

Money, or other things of value, that a real estate agent receives on behalf of the
principal or any other person involved in a transaction.

Question 24

Trustee

Answer 24

One who holds property in trust for another to secure the performance of an obligation. Third
party under a deed of trust.

Question 25

Trustor

Answer 25

One who borrows money from a trust deed lender, then deeds the real property securing the
loan to a trustee to be held as security until trustor has performed the obligation to the lender under
terms of a deed of trust.

Question 26

Truth in Lending Act (TILA)

Answer 26

The name given to the federal statutes and regulations (Regulation Z)
which are designed primarily to insure that prospective borrowers and purchasers on credit receive
credit cost information before entering into a transaction.