Dictionary

Term Mortgage

Definition:   a nonamortizing loan that normally calls for repayment of the principal in full at the end of the loan term Pronunciation:    \ˈtərm\ \ˈmȯr-gij\ Used in a Sentence:    Our term mortgage...

Tenant In Common

Definition:   a form of ownership by two or more persons each having an equal or unequal interest and passing the interest to heirs, not to surviving tenants Pronunciation:   \ˈte-nənt\   \ˈkä-mən\...

Tenant

Definition:   a person or party with rights of occupancy or possession of real property Pronunciation:   \ˈte-nənt\ Used in a Sentence:   A tenant is now leasing the apartment.

Tenancy By The Entireties

Definition:   an estate created by husband and wife jointly owning real property with instant and complete right of survivorship Pronunciation:    \ˈte-nən(t)-sē\  \in-ˈtī-rə-tē\ Used in a Sentence:    In a tenancy...

Tenancy At Will

Definition:    an estate that may be terminated by either party at any time upon proper notice; nonfreehold estate Pronunciation:   \ˈte-nən(t)-sē Used in a Sentence:   In a tenancy at will...

Tenancy At Sufferance

Definition:   an estate lawfully acquired for a temporary period of time but retained after a period of lawful possession has expired; nonfreehold estate Pronunciation:   \ˈte-nən(t)-sē\  \ˈsə-f(ə-)rən(t)s\ Used in a Sentence: ...