The amount of property taxes to be paid by the property owners. Determined by the county assessor's office.

Bonds sold to recoup unpaid property taxes by the county in which the property is located. When the property is auctioned, the certificate holders may either use the certificates as money to bid on the property or redeem them for face value plus interest.

Sale of property after a period of nonpayment of taxes.

An income property that generates artificial paper losses, due to depreciation or cost recovery, that are in excess of the income produced by the property. These artificial losses can be used to offset other taxable income earned by the owners. In general a tax shelter is any deferral, reduction, or elimination of a tax due.

Only for California Properties, this indicates the map grid on the new Thomas Brothers map in which the property can be found. Used in conjunction with the TB Map Page.

Only for California Properties, this indicates the map grid on the old Thomas Brothers map in which the property can be found. Used in conjunction with the TB Map Page.

Only for California Properties, this indicates the page on the new Thomas Brothers map in which the property can be found.

Only for California Properties, this indicates the page on the old Thomas Brothers map in which the property can be found.

A court order that freezes the status quo for an extended time period, typically until a full court trial on the merits of a case can be held. It often requires posting a bond, although many states' laws waive the bond requirement in cases involving the foreclosure of a home.

A court command that freezes the status quo for a short period of time until other legal relief is awarded or a settlement between the litigants can be reached.

A license to use or occupy lands and tenements at the will of the owner.

An estate that exists only between husband and wife with equal right of possession and enjoyment during their joint lives and with the right of survivorship.

As opposed to joint tenancy, when there are two or more individuals on title to a piece of property, this type of ownership does not pass ownership to the others in the event of death.

An ownership of realty by two or more persons, each of whom has an undivided interest without the right of survivorship.

A type of joint tenancy in a property without right of survivorship. Contrast with tenancy by the entirety and with joint tenancy.

A person having the temporary use and occupancy of real property owned by another.

The obligee for a cooperative share loan, who is both a stockholder in a cooperative corporation and a tenant of the unit under a proprietary lease or occupancy agreement.

An offer to pay or perform.

The exact way a property will be purchased.

One who dies leaving a will.

A regulatory agency of the State of Texas, the TALCB was created in 1991 to license, certify and regulate real estate appraisers in Texas under state and federal laws. It superseded the Texas Real Estate Appraiser Certification Committee of the Texas Real Estate Commission.

Makes it illegal for false, misleading, or deceptive acts or practices in the advertising, offering for sale, selling, or leasing of any real or personal property. The Act provides for civil penalties and in some cases, for mandatory triple damages and attorney fees for the aggrieved party. Also see Deceptive Trade Practices Act.

Created in 1979, the THA issues tax exempt mortgage revenue bonds. The funds may be used to purchase existing mortgages from lending institutions, to purchase new mortgage loans, or to make direct loans to qualified housing sponsors who are recommended by a lending institution. The agency does not actually originate mortgages, but issues commitments to lenders to purchase mortgages that meet all the agency's requirements. This is known as a forward commitment program.

The TNRCC is the lead environmental agency for The State of Texas. Its mission is to protect the state's human and natural resources consistent with sustainable economic development. Goals include clean air, clean water, and the safe management of waste. The TNRCC is responsible for the general supervision and oversight of water districts and utilities, including the processing of petitions to create a district and applications to approve a utility service area. In addition, the agency maintains approval authority over many utility matters including the review of most district bond issues to assure the engineering and economic feasibility of projects, as well as standby fees, impact fees, fire plans, and other district matters plus the rates charged by privately-owned and member-owned utilities.

The state regulatory agency responsible for the education and licensing of Real Estate Brokers, Inspectors and Salespersons. TREC also provides enforcement of the Texas Real Estate License Act, the Rules of the of the Real Estate Commission, the Texas Timeshare Act and the Residential Service Company Act. The mission of the Texas Real Estate Commission is to assist and protect consumers of real estate services, and foster economic growth in Texas. Through its programs of education, licensing and industry regulation, the Commission ensures the availability of capable and honest real estate service providers.

The law which established the Texas Real Estate Commission and governs the licensure and lawful behavior of Real Estate Brokers and Salespersons. The Texas Real Estate License Act may be amended by the State Legislature, as it deems necessary.

This program assists Texas veterans in the repair and improvement of their principle residence by providing low interest home improvement loans up to $15,000.

Established by a constitutional amendment in 1984, the VHAP assists Texas veterans in the purchase of a principal residence.

Established by state in 1949 to assist Texas veterans to buy land with a small down payment and with long term mortgages with low interest rates.

A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package the mortgages it plans to deliver to the secondary mortgage market.

A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package the mortgages it plans to deliver to the secondary mortgage market. See mortgage broker

A clause, which if included in a contract, makes failure to perform by a specified date a material breach or violation of the contract.

A piece of property purchased by two or more parties who have set specific times when each may use or occupy the property.

A legal document evidencing a person's right to or ownership of a property.

Evidence of the ownership of land.

A legal document evidencing a person's right to or ownership of a property.

A company that specializes in examining and insuring titles to real estate.

A company that specializes in examining and insuring titles to real estate.

Indicates the insuring title company that issued the title policy or guarantee during a transaction. Blank if unavailable.

Unresolved claim against the ownership of property that prevents presentation of a marketable title. Such claims may arise from failure of the owner's spouse, or former part owner, to sign a deed, current liens against the property, or an interruption in the title's records of a property.

Insurance that protects the lender (lender's policy) or the buyer (owner's policy) against loss arising from disputes over ownership of a property.

A policy of insurance that protects the holder from any loss caused by defects in the title.

Insurance that protects the lender (lender's policy) or the buyer (owner's policy) against loss arising from disputes over ownership of a property.

A business that reports on the status for the title on a specific property and whether or not it has any liens against it. After this title search has been completed, the company will issue a deed to be signed by all the owners of the property, which should be notarized and recorded in the public records.

Document indicating the current state of the title, such as easements, covenants, liens, and any other defects. The title report does not describe the chain of title.

A check of the title records to ensure that the seller is the legal owner of the property and that there are no liens or other claims outstanding.

An examination of the public records to determine the ownership and encumbrances affecting real property.

A check of the title records to ensure that the seller is the legal owner of the property and that there are no liens or other claims outstanding.

States that allow the lender to become the legal owner at the time of making the loan. The borrower only has possession.

Total obligations as a percentage of gross monthly income. The total expense ratio includes monthly housing expenses plus other monthly debts.

Amount of money borrowed plus any financed closing costs.

Total costs made up of principal, interest, property taxes and insurances.

A strip of land running East and West, usually measured six miles wide, beginning at the Base Line and moving outward. Used to create coordinates identifying Townships.

A parcel of land. In some states, synonymous with a subdivision.

Equity that results from a property purchaser giving his or her existing property (or an asset other than real estate) as trade as all or part of the down payment for the property that is being purchased.

The last date available that a transfer of ownership occurred for a particular property - only applies with change of ownership, and will not include some quit-claim deeds. See also: Last transaction w/o $$ (date).

Any means by which the ownership of a property changes hands. Lenders consider all of the following situations to be a transfer of ownership: the purchase of a property "subject to" the mortgage, the assumption of the mortgage debt by the property purchaser, and any exchange of possession of the property under a land sales contract or any other land trust device.

Any means by which the ownership of a property changes hands.

State or local tax payable when title passes from one owner to another.

State or local tax payable when title passes from one owner to another.

The last amount available of record indicating the sale price of a property.

An index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans. It is based on the results of auctions that the U.S. Treasury holds for its Treasury bills and securities or is derived from the U.S. Treasury's daily yield curve, which is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market.

An agreement which specifies that the tenant pays real estate taxes, insurance, and all maintenance costs of the property.

A deed given by the property owner to secure performance of an act (such as making payments on a loan). A deed of trust is a type of mortgage.

A type of mortgage that gives a lender the power to foreclose and take title away from the borrower.

One who holds title to real property under the terms of a deed of trust.

A fiduciary who holds or controls property for the benefit of another.

A type of deed issued to the buyer at a foreclosure by the trustee.

A non-judicial action whereby a trustee may auction and sell property secured by a Deed of Trust subsequent to a default in the terms and conditions of the loan.

A title insurance policy for the benefit of the trustee handling a foreclosure action.

A federal law that requires lenders to make certain disclosures to borrowers concerning a loan, such as the interest, the annual percentage rate, the total cost of the loan, the total of all payments and the use of disclosure forms at the loan application and closing.

A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.

A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.

An English-style imposing looking house with fortress lines. Siding is chiefly stone and brick with some stucco and half timbers. Windows and doors have molded cement or stone trim around them.

A deteriorated property that can be restored and sold for a gain.

A changed location for a surveying instrument during a survey.

Movement for change of people, such as tenants. The sale of one average real estate inventory item within a specified time.

A court command to a debtor to give title to certain assets to a creditor.

A property that consists of a structure that provides living space (dwelling units) for two to four families, although ownership of the structure is evidenced by a single deed.

An adjustable-rate mortgage (ARM) that has one interest rate for the first five or seven years of its mortgage term and a different interest rate for the remainder of the amortization term.

Adjustable mortgage with one interest rate for the first five or seven years of the loan and another for the remained of the loan term.

An adjustable-rate mortgage (ARM) that has one interest rate for the first five or seven years of its mortgage term and a different interest rate for the remainder of the amortization term.