Dictionary

Definition:   cash, checks, money orders, and items that can be converted into cash that a person (broker) holds in trust for another person Pronunciation: Used in a Sentence:  When we made our deposit on the house the broker placed the funds into a trust funds account.

Definition:   a person or party, either appointed or required by law to administer or manage another’s property Pronunciation:   \ˌtrəs-ˈtē\ Used in a Sentence:    He was named as trustee to the child’s estate.

Definition:   a right of property, either real or personal, held by one party for the benefit on another Pronunciation:    \ˈtrəst\ Used in a Sentence:    The property will be held in trust until her 25th birthday.

Definition:   A body of federal law that ensures that borrowers and customers of consumer credit are given meaningful information with respect to the cost of credit. Pronunciation: Used in a Sentence:

Definition:   used in advertising, include the following – the amount or percentage of down payment, number of payments, period (term) of repayment, amount of any payment, and the amount of any finance charges Pronunciation:   \ˈtri-g(ə-)riŋ\ Used in a Sentence:    The Truth in Lending Act requires creditors to disclose certain information if triggering terms are used in an advertisement.

Definition:   a broker who provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent Pronunciation:   \tran-ˈzak-shən\ \ˈbrō-kər\ Used in a Sentence:   A buyer or seller who chooses limited representation is a customer under the transaction broker relationship.

Definition:   any adopted or fictitious name used to designate a business concern Pronunciation: Used in a Sentence:   The real estate office operated under the trade name Sunshine Realty.

Definition:   an article that is attached by a commercial tenant as a necessary part of the tenant’s business and is personal property Pronunciation:  \ˈfiks-chər\ Used in a Sentence:   The  display racks attached to the walls in the retail store are considered trade fixtures.

Definition:   the east-west survey lines located every six miles north and south of the primary base line Pronunciation:   \ˈtau̇n-ˌship\ \ˈlīn\ Used in a Sentence:   Township lines run horizontally on a map.