Glossary of Real Estate Terms

There are 125 entries in this glossary.
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T

Term Definition
Tax base

The assessed valuation of all real property which lies within a taxing authority's jurisdiction is known as Tax base. When this is multiplied by the tax rate, it determines the amount of due tax.

Tax lien

This is a legislative lien for the nonpayment of property taxes which attaches only to the property upon which the taxes are unpaid

Tax roll

It is a list which contains the descriptions of all land parcels located within the county, the names of the owners and those who receive the tax bill, assessed values and tax amounts.

Tenant

Tenant is someone who rents real estate from another and holds an estate by the virtue of a lease.

Tenant at will

Someone who holds possession of premises by permission of the owner or landlord is known as Tenant at will. Here the characteristics of the lease are an uncertain duration and the right of either party to terminate on proper notice.

Tenant mix

The phrase describes the quality of a property's income stream. In the multi-tenanted properties, the institutional investors normally fancy a mixture of national credit tenants, regional credit tenants and local non-credit tenants.

Title

It means whereby the landlord has the just and full possession of the real property.

Title insurance

This is a policy that issued by a title company that insures against the loss resulting from defects of title to a specifically described parcel of real property, or from the enforcement of liens existing against it at the time the title policy is issued

Triple net lease

This is a kind of lease which requires the tenant to pay all expenses of the property being leased in addition to rent. Typical expenses covered in such a lease include taxes, insurance, maintenance and utilities.

Trustee

The trustee oversees the flow of funds through the CMBS structure on behalf of the bondholders. The trustee is responsible for collecting principal and interest from the service, distributing payments to bondholders and reporting to bondholders.

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