Thursday, May 2, 2024, 3:24 AM
Site: America's Real Estate Academy, Inc.
Course: America's Real Estate Academy, Inc. (AREA)
Glossary: Real Estate Glossary
T
trigger termsare items that if included in any advertising which entices a borrower must disclose additional information to protect the consumer per Regulation Z. Such terms include: credit terms, down payment, monthly payment, dollar amount of the finance charge, or term of the loan. |
triple net leaseis a contract between landlord and tenant that shifts part of the cost of ownership to the tenant. In a triple net lease, the tenant will pay rent plus the tenant’s share of property taxes, insurance, and common area maintenance (CAM) on the building. |
trustis a fiduciary arrangement used to transfer ownership of real or personal property to a trustee to be held and/or administered on behalf of the beneficiary. The person who creates the trust is called the trustor. |
trust fund accountAn 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; also call and earnest money or escrow account. |
trustee's deedA deed executed by a trustee conveying land held in a trust. |
Truth-in-Lending Actthe federal government regulation designed to protect consumers in credit transactions by requiring clear disclosure of key terms of the lending arrangement and all true costs. |