TACKING ON

Beginning a subsequent title examination, in point of time, at the end of a previous title examination.  (See Back Title Letter.)

TAKE-OFF

An abbreviated copy of the principal features of recorded instruments, required for the purposes of indexation in an abstract plant or for purposes of making abstracts or examining titles.

TAKE-OUT

A written commitment or agreement given by a permanent mortgage lender to a temporary mortgage lender under which the permanent lender agrees to purchase mortgages made by the temporary lender.

TAX LIEN

The lien which is imposed upon real estate by operation of law which secures the payment of real estate taxes.

TENANT

(1) Usually one who holds possession of real estate under a lease.  (2) In a broader sense, one who holds or possesses lands and tenements by any kind of title.

TENANT AT SUFFERANCE

One who continues to hold possession of real estate after his authorized term of occupancy has expired.

TENANT AT WILL

A tenant whose occupancy of real estate is subject to the will of the owner.

TENANTS IN COMMON

Two or more persons in whom title to a single piece of real estate is vested in such a manner that they have a common or equal right to possession and enjoyment of the property, but each holds a separate individual interest or estate in the property.  Each owner may sell or encumber his respective interest or dispose of it by will, and if he dies without leaving a will, his heirs inherit his undivided interest.

TENEMENT

(1) A building or complex of buildings containing residential rental units.  (2) A run-down, low-rental apartment or flat building or rooming house.  (3) Real property held by a person under a right or authority conferred by an owner.

TESTAMENT

Commonly used in the phrase "last will and testament" and generally considered synonymous with will.  Technically speaking, it is a document providing for the disposition of one's personal property upon his death.

TESTATE

Having made a legally valid will and leaving it at death.

THIRD PARTY

A term usually applied to persons who are not principal parties to a contract or other instrument, but who have some right, interest or duty which such contract or instrument affects.  For example, where a sale contract between buyer and seller of real estate provides that the money and documents involved in the transaction will be deposited with a title company pending the closing of the deal, the title company becomes a third party to the transaction.

TITLE

(1) A combination of all the elements that constitute the highest legal right to own, possess, use, control, enjoy, and dispose of real estate or an inheritable right or interest therein.  (2) The rights of ownership recognized and protected by the law.

TITLE ASSURANCE

Assurance of title afforded by abstracts, attorneys' opinions, title insurance, and surveys.

TITLE COVENANTS

Covenants ordinarily inserted in conveyances and in transfers of title to real estate for the purpose of giving protection to the purchaser against possible insufficiency of the title received.  A group of such covenants known as "common law covenants" includes:  (a) covenants against encumbrances; (b) covenant for further assurance (in other words, to do whatever is necessary to rectify title deficiencies); (c) covenant of good right and authority to convey; (d) covenant of quiet enjoyment (see Quiet Enjoyment); (e) covenant of seisin; (f) covenant of warranty.  (See Warranty, also see Covenant).

TITLE DEFECT

(1) Any possible or patent claim or right outstanding in a chain of title which is adverse to the claim of ownership.  (2) Any material irregularity in the execution or effect of an instrument in the chain of title.

TITLE EXAMINATION

(See Examination.)

TITLE EXAMINER

(See Examiner.)

TITLE INSURANCE

Indemnity against loss resulting from defects in or liens upon a title.

TITLE INSURER

A company which insures the title to real estate.

TITLE PLANT

(1) In many areas, synonymous with Abstract Plant.  (See Abstract Plant.)  (2) A geographically filed assemblage of title information which is to help in expediting title examinations, such as copies of previous attorneys' opinions, abstracts, tax searches, and copies or take-offs of the public records.

TITLE SEARCH

A search and perusal of the public records for recorded instruments which affect the title to a particular piece of land.  (See also Abstract and Examination.)

TITLE SEARCHER

One who searches titles.

TITLE UNDERWRITER

Synonymous with Title Insurer.

TOMBSTONE TITLE

A title, the validity of which relies upon information gleaned from one or more tombstones, such as the fact of an owner's death, the name of his surviving wife, the date of his death, and sometimes the identity of a deceased owner in cases where a person of the same name claims title.

TORRENS

A system wherein public officials by statute promulgate a system of land registration and title certification.  The system incorporates a provision for court action to perfect titles if necessary.

TRUNK TITLE

(See Dresser Drawer Title.)

TRUST DEED

An instrument in the nature of a mortgage which secures the payment of a debt.  Distinguished from a mortgage in that the title is transferred to, and held by, a trustee for the benefit of the holder of the debt.