Tenancy in Common (TIC)
Tenancy in common refers to a shared tenancy in which each holder has a distinct and separately transferable interest. If a holder dies, his share would be determined by his will rather than being transferred to the other holder.
A title is a legal document proving a party's ownership of a property.
Title insurance is an insurance policy that covers the legal fees caused by a claim made against ownership of a property.
The costs associated with buying and selling real estate are known as transaction costs.
Transparency refers to fully disclosing all activities of a business relevant to investors.
Triple Lease Agreement
A triple lease agreement is a lease agreement that makes the tenant solely responsible for all costs related to the asset being leased. The tenant must pay the real estate taxes, building insurance, and maintenance expenses.
A trust is a legal agreement in which property is transferred to a third party.
A trustee is the party that holds property for another to ensure the completion of an obligation (like paying off a loan).