Commonly used term referring to a parcel of land.

Transfer of Ownership

The process of the ownership of any real property changing ownership to another owner.

Transfer Tax

The State or local tax charged for transferring the title of a real property from one owner to another.

Treasury Index

This index is used to track interest rate changes on adjustable rate mortgages. This index is based on the results of auctions the U.S. Treasury holds for it


The property right held by one as a fiduciary responsibility for the benefit of another party.


This is the party holding assets in trust as a fiduciary for the benefit of another party.


Occurring during foreclosure proceedings, this is an auction of items held by the trustee under a deed of trust.

Truth in Lending

A Federal Law that requires lenders to give full disclosure of the terms and conditions of a mortgage at the time of the mortgage

Two step mortgage

An adjustable mortgage rate that has two rates, one for the first five to seven years of the loan and another for the remaining life of the loan

Two to Four Family Property

A property that is under a single ownership, but that provides dwelling units for two to four families.

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