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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

T

Tax sale	A sale of real property ordered by the court in order to raise money to cover delinquent taxes
Tenancy in common	A version of joint tenancy of a property, but without any right of succession by survivorship among the owners
Testate	To die having prepared and left a valid will
Testator	The individual who makes out a last will and testament
Time is of the essence	A condition in a contract requiring the completion of a certain act within a designated period of time
Time-share	A form of ownership interest which allows use of the property only for a fixed or variable period of time
Title	A legal document that evidences a person's ownership of and right to possess a property
Title insurance	Insurance that protects the owner or mortgagee against loss arising from disputes over or defects in the title to a parcel of real estate that arise after ownership has been transferred
Title search	Research into public title records to determine the current status of ownership of a piece of property; a licensed attorney must provide any legal interpretation of the records found
Torrens Title	Now a dated system (only used in a few US states) whereby the court issues a certificate establishing the extent of an individual's estate, including any exceptions noted
Township	A division of land that is six miles square, containing 36 square-mile sections
Tract	A specific parcel of land
Transfer of ownership	Any circumstance in which the ownership of a property changes hands, e.g., via outright, titled purchase, or the assumption of an existing on a property, or possession of the property via a land sales trust, even any transfer of a beneficial interest in the trust
Transfer tax	State or local taxes imposed on a transfer of ownership of real property
Trust	A right to a piece of property that is held for the benefit of another
Trust deed, or a Deed of trust	A written document that grants the trustee the title to a piece of property for the benefit of another, and which gives the trustee the power to sell, mortgage or subdivide the property
Trustee	A party who holds property for the benefit of another
Trustee's deed	A deed conveying land ownership executed by the trustee who holds the land in trust
Trustor	The borrower in a trust loan transaction
Truth-in-Lending	A federal law that requires disclosure by a credit institution or lender of the terms and conditions of a loan or mortgage, including the annual percentage rate and any other charges, to the borrower when they apply for the loan. Also see Regulation Z
Two-step mortgage	An adjustable-rate mortgage that charges a below-market interest rate for a designated number of years (usually 5 or 7) after which the interest rate is adjusted to the current market conditions

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Holleay Parcker Broker/Owner SPINNAKER REALTY, LLC 6475 N. Croatan Hwy Ste 203 (MP 4) Kitty Hawk, NC 27949 Toll-free Direct: 877.207.1617 Local Mobile: 252.207.1617 Fax: 252.255.1115 Email Holleay now: holleay@OuterBanksRealEstateTips.com My desire is that you become thoroughly educated about the Outer Banks real estate market before making your purchase or selling decision. This is a process, and it is crucial to your success as an investor. I will take all the time necessary to answer your questions and assist you in achieving your real estate goals. Outer Banks Real Estate - The Most Important Tip You Need to Know Before Buying Property on the Outer Banks The most important decision you must make before purchasing Outer Banks real estate is selecting the agent you will work with. Choosing the right agent will save you time and money; choosing the wrong one may cost you both. More than 70% of real estate buyers deal with the first agent they speak with. Don't make this costly mistake! Research has shown that many people spend more money on their second home or investment property than they do on their primary residence. This means that your Outer Banks real estate purchase may well be the most valuable financial decision of your lives. With so much at stake, it's important that you secure the best possible agent to represent your interests. Why would you settle for less than the very best? When selecting the right Outer Banks real estate agent for your needs, consider these tips: 1. Is your agent a member of the Institute for Luxury Home Marketing? Members have received extensive training in handling exceptional properties in the upper tier market. Whether or not you are considering a home in the million dollar range, shouldn't you choose an agent who has received the highest level of training? I am a proud member of the Institute of Luxury Home Marketing. Only 4 other agents in the entire Outer Banks real estate market (936 agents strong) can make this claim. 2. Has your agent received the Certified Luxury Home Marketing Specialist designation? Unlike many other designations, this one is performance-based, which means that the agent has achieved a solid track record of sales in the upper 10% of their market. I have earned the coveted CLHMS designation, and only 2 other agents on the Outer Banks have received theirs. 3. Has your agent been recognized as a Million Dollar Guild member? Million Dollar Guild status is accepted by real estate consumers the world over as the industry's elite. Success in the million dollar and above arena has been demonstrated and certified. Simply put, it doesn't get better than this. My strong performance in the luxury home tier has earned me membership in the exclusive Million Dollar Guild club. Now that you realize that not all agents are alike, shouldn't you be calling the very best agent to assist you? Let's talk about your Outer Banks real estate needs today. You may reach me toll-free direct at 877.207.1617. I look forward to hearing from you. www.OuterBanksRealEstateTips.com is brought to you by Holleay Parcker NUMBER1EXPERT™ in real estate for Corolla, Outer Banks and Duck, North Carolina Read Holleay Parcker's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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