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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

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

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 of the right to or ownership in property. In the case of real estate, the documentary evidence of ownership is the title deed. Title may be acquired through purchase, inheritance, gift, or through foreclosure of a mortgage.
• Legal ownership of property.

Title Insurance
Insurance which provides for the payment of a specific amount of funds for loss caused by defects in the title to real estate.

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.