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T |
| tenancy |
The right to occupy a property under agreed terms and conditions. |
| tenants in common |
A type of joint tenancy in a property where two or more purchasers own a property. If one party dies, the property is divided according to law. |
| term |
The length of a home loan such as 25 years. |
| title fees |
A fee for the title search, registration of a new mortgage, discharge of an old mortgage and transfer of property ownership. The fee is paid to the states' Land Title Office. |
| title search |
A check of the title records to ensure that the seller is the legal owner of the property and that there are no outstanding liens or claims. |
| Torrens Title |
A system of recording property ownership. Also known as Certificate of Title. |
| townhouse |
A dwelling unit, generally having two or more floors and attached to other similar units by a common wall. |
| transfer |
A document registered at the Land Titles Office which confirms the change of ownership as noted on the Certificate of Title. |
