The Real Estate
Encyclopedia: P-T

In real estate law, a patent is the original conveyance of title to land from the government to a private individual or entity. It represents the first transfer of ownership from public to private hands. A land patent establishes the foundation of title for property...

Transactional funding is a form of short-term financing used primarily in real estate wholesaling and investment transactions to facilitate back-to-back closings. It provides the investor with temporary capital to purchase a property, often for a very brief period...

In real estate finance and consumer credit law, Truth in Lending refers to federal statutes and regulations, including Regulation Z, that are designed to ensure that prospective borrowers and credit purchasers receive clear and accurate information about the cost of...

In real estate finance, a trustor is the borrower under a deed of trust. The trustor conveys legal title to the property to a trustee as security for the repayment of a loan to the beneficiary, or lender. Although title is transferred to the trustee for security...

In real estate law, a trustee’s deed is a deed issued by a trustee under a deed of trust following a foreclosure sale. It conveys title to the purchaser who acquires the property at the foreclosure auction. A trustee’s deed transfers whatever interest the trustor had...

In real estate finance, a trustee is a person or entity that holds legal title to real property under the terms of a deed of trust. The trustee acts as a neutral third party between the borrower and the lender. The trustee’s primary duties include holding title as...

In real estate finance, a trust deed, also known as a deed of trust, is a security instrument used in many states in place of a mortgage. It involves three parties: the borrower, called the trustor, the lender, called the beneficiary, and a neutral third party known...

In real estate practice, a trust account is a separate bank account maintained by brokers, escrow agents, or other fiduciaries to hold funds belonging to others. These funds may include earnest money deposits, rents, or other monies held in connection with a...

In real estate transactions, a transfer tax is a tax imposed by a state or local government on the transfer of title to real property. The tax is typically calculated based on the consideration paid for the property. Transfer taxes are usually paid at the time of...

In real estate law, trade fixtures are items of personal property installed by a business tenant on leased premises for the purpose of conducting a trade or business. Although attached to the real property, they are intended for business use rather than as permanent...