Real Estate Glossary

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T

trigger terms

are 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 lease

is 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.

trust

is 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 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; also call and earnest money or escrow account.

trustee's deed

A deed executed by a trustee conveying land held in a trust.

Truth-in-Lending Act

the 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.

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