TANGIBLE PERSONAL PROPERTY: Anything other than real estate or money, including furniture, cars, jewelry and china.
TENANCY IN COMMON: A type of joint ownership that allows a person to sell his share or leave it in a will without the consent of the other owners. If a person dies without a will, his share goes to his heirs, not to the other owners.
TESTAMENTARY TRUST: A trust created by the provisions in a will. Typically comes into existence after the writer of the will dies.
TESTATOR: The person who makes a will.
TITLE: Ownership of property.
TITLE SEARCH: A review of the land records to determine the ownership and description of the property.
TORT: A civil wrong that result in an injury to a person or property.
TOTTEN TRUST: A bank account in your name for which you name a beneficiary. Upon the death of the named holder of the account the money transfers automatically to the beneficiary.
TRADEMARK: A word, name or symbol used to identify products sold or services provided by a business. Distinguishes the products or services of one business from those of others in the same field. A business using a trademark has the right to prevent other businesses from using it and can get money to compensate for its infringement.
TRADE NAME: The name used to identify a business.
TRUST: Property given to a trustee to manage for the benefit of a third person. Generally the beneficiary gets interest and dividends on the trust assets for a set number of years.
TRUSTEE: Person or institution that oversees and manages a trust.