Archives: Glossary Terms

TRIPLEX

(1) Any building containing exactly three dwelling units. (2) An apartment on three separate floors or levels.

TRUCK HIGH

A platform at the height of a truck bed, usually about four feet high.

TRUCK INDENTURE

A recessed platform allowing a truck to back into a building to unload.

TRUCK WELL

A slope which brings the level of a truck bed to the level of a loading platform.

TRUSS

A frame to support a roof, bridge, or other span.

TRUSS HEIGHT

The height of the trusses (roof beams), as measured from the floor.

TRUST

A fiduciary relationship under which one holds property (real or personal) for the benefit of another. The party creating the trust is called the settlor, the party holding the property is the trustee, and the party for whose benefit the property is held is called the beneficiary.

TRUST ACCOUNT

An account used by brokers, escrow agents, or anyone holding money in trust for another. See also: Commingling.

TRUST INSTRUMENT

Any writing which creates a trust. May be a will, court order, trust agreement, or similar writing.

TRUSTEE

(1) One who is appointed, or required by law, to execute a trust. (2) One who holds title to real property under the terms of a deed of trust.

TRUSTEE IN BANKRUPTCY

One appointed by a bankruptcy court, and in whom the property of the bankrupt vests. The trustee holds the property in trust, not for the bankrupt, but for the creditors.

TRUSTEE’S DEED

A deed by a trustee under a deed of trust, issued to a purchaser at auction, pursuant to foreclosure.

TRUSTEE’S SALE

A sale at auction by a trustee under a deed of trust, pursuant to foreclosure proceedings.

TRUSTOR

The borrower under a deed of trust. One who deeds his property to a trustee as security for the repayment of a loan.

TRUTH IN LENDING

Also referred to as Regulation Z. Part of the Consumer Credit Protection Act. Federal legislation designed to protect borrowers by requiring lenders to furnish information regarding the cost of the loan. The law requires interest to be expressed as the annual percentage rate (APR) to the nearest 1/8 of one percent. The APR must include charges such as loan fees, discount points, servicing fees, etc., as well as interest. The law applies to 1 to 4 family residential property only. Also applies to other consumer loans.

TUCK POINTING

The finishing of joints of brick, block, or similar material, with putty or mortar. Most commonly used in chimney repair.

TURN KEY

Referring to an owner making a property ready for a tenant to begin business by having the tenant furnish only furniture, phone, and inventory, if any. Ready to “turn the key” in the front door and begin business.

카카오톡 상담
재오픈 안내

안녕하세요. 카카오톡 상담 기능이 다시 정상적으로 작동되어 다시 오픈 되었습니다. 궁금하신 점이 있으시면 언제든지 여기 카카오톡 채널을 통해 연락주세요. 항상 감사합니다.

카카오톡 채널 채팅하기 버튼