Tax-Deferred Investments
An investment whose earnings are not subject to state or federal tax until the investor assumes possession of them. Individual Retirement Accounts are common examples.

Tax Lien
A claim against property for non-payment of property taxes. May also refer to non-payment of income tax.

Testamentary Trust
A type of trust that is established under the will of a deceased individual.

Testate
Making and leaving a valid will; an individual who dies without having made a will is said to have died intestate.

Title
The evidence one has of right to possession of land.

Title Insurance
Insurance against loss resulting from defects of title to a specifically described parcel of real property. Defects may run to the fee (chain of title) or to encumbrances.

Title Search
A review of all recorded documents affecting a specific piece of property to determine the present condition of title.

Trust
A legal, fiduciary relationship in which an individual or institution (the trustee) holds legal title to property with the responsibility for keeping or managing this property for the benefit of another person or beneficiary.

Trust Agreement
A legal document that establishes a trust and outlines the rules and guidelines affecting its management and disposition.

Trust Fund
Property held in trust. This term originally applied only to money held in trust, but is frequently used when referring to all property held in trust.

Trustee
The individual or institution with responsibility for management of property placed in trust for the benefit of another individual.

Truth in Lending Disclosure Statement
This document will show you the annual percentage rate (APR) and other payment information for the loan you have applied for. The APR takes into account not only the interest rate but also the points and fees.