Dictionary
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Trust Funds
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.
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Truth In Lending Act (tila)
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:
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Triggering Terms
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.
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Transaction Broker
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.
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Trade Name
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.
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Trade Fixture
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.
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Township Lines
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.