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Genuine Kindness is no ordinary act, but a Gift
Genuine Kindness is no ordinary act, but a GIFT of rare beauty. Thank you, Sherry Frey (HomeBuyer)
Sylvan Rossetti
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Tax sale |
A sale of real property ordered by the court in
order to raise money to cover delinquent taxes |
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Tenancy in common |
A version of joint tenancy of a property, but
without any right of succession by survivorship among the
owners |
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Testate |
To die having prepared and left a valid
will |
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Testator |
The individual who makes out a last will and
testament |
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Time is of the essence |
A condition in a contract requiring the
completion of a certain act within a designated period of time |
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Time-share |
A form of ownership interest which allows use of
the property only for a fixed or variable period of time |
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Title |
A legal document that evidences a person's
ownership of and right to possess a property |
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Title insurance |
Insurance that protects the owner or mortgagee
against loss arising from disputes over or defects in the title to a parcel of
real estate that arise after ownership has been transferred |
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Title search |
Research into public title records to determine
the current status of ownership of a piece of property; a licensed attorney
must provide any legal interpretation of the records found |
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Torrens Title |
Now a dated system (only used in a few US
states) whereby the court issues a certificate establishing the extent of an
individual's estate, including any exceptions noted |
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Township |
A division of land that is six miles square,
containing 36 square-mile sections |
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Tract |
A specific parcel of land |
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Transfer of ownership |
Any circumstance in which the ownership of a
property changes hands, e.g., via outright, titled purchase, or the assumption
of an existing on a property, or possession of the property via a land sales
trust, even any transfer of a beneficial interest in the trust |
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Transfer tax |
State or local taxes imposed on a transfer of
ownership of real property |
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Trust |
A right to a piece of property that is held for
the benefit of another |
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Trust deed, or a Deed of
trust |
A written document that grants the trustee the
title to a piece of property for the benefit of another, and which gives the
trustee the power to sell, mortgage or subdivide the property |
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Trustee |
A party who holds property for the benefit of
another |
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Trustee's deed |
A deed conveying land ownership executed by the
trustee who holds the land in trust |
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Trustor |
The borrower in a trust loan
transaction |
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Truth-in-Lending |
A federal law that requires disclosure by a
credit institution or lender of the terms and conditions of a loan or mortgage,
including the annual percentage rate and any other charges, to the borrower
when they apply for the loan.
Also see Regulation Z |
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Two-step mortgage |
An adjustable-rate mortgage that charges a
below-market interest rate for a designated number of years (usually 5 or 7)
after which the interest rate is adjusted to the current market
conditions |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
What is the world's largest palace?
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| A |
The Imperial Palace (Gugong) in the center of Beijing, China covers over 178 acres and dates back to the early 1400s. |
 See More Real Estate Trivia > |
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'Lela' Ashkarian P.A. CRS, e-PRO. GRI
Coldwell Banker Schmitt Real Estate
11050 Overseas Highway
Marathon, FL. 33050
Direct: 305-395-0814
Mobile: 305-395-0814
Toll Free: 800-366-5181 ext 6492
eFax: 305-946-7771
Voice Mail: 800-366-5181 ext 6492
Email: lela@coldwellbanker.com
Email: lelasells@bellsouth.net
email: 395.0814@305.ac
My purpose is to help buyers and sellers Making Their Dream a Reality! To Live and Work in a prosperous environment in The Heart of Florida Keys and Key West that encourages productivity, to that we may improve the service we render to our family, friends, company, our community, our nation and, ultimately, the World.
By The Way!
Why is that immigrants to the United States succeed and become self-made millionaires at four times the rate of native-born Americans on a per-capita basis? and the simplest reason of all, aside from the fact that they had to have more ambition to leave their home to come here, is that they come here with a blank slate...is they come here, and they say, "Now, I'm starting all over from nothing." Many of them come here penniless, with no friends, no contacts, no ability to speak English. They have no education. They have no background. they start with nothing but a blank slate. and what they do is they say, "Now, I'm in the land of dreams. What is my dream?" (Brian Tracy). Does this resonate with you? it does with me! Now what is your dream?
Thank You. Lela
p.s. People don't mind trading information for good value. Please feel free to leave your email and phone number where I can communicate with you effectively.        
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