Trade fixtures

The articles installed by a tenant under the terms of a lease and removable by the tenant before the lease expires.

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Township lines

The horizontal lines running at six-mile intervals parallel to the baselines in the rectangular survey system.

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Township

The principal unit of the rectangular survey system. A township is a square with six-mile sides and an area of 36 square miles.

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Torrens system

A method of evidencing title by registration with the proper public authority generally called the registrar.

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Title insurance

(1) Insurance designed to indemnify the holder for the loss sustained by reason of defects in a title, up to and including the policy limits. (2) Due to a variety of potential title “defects” title insurance is secured by both home buyers and their lenders. This insurance covers them should in the event another party lays […]

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Termination (listing)

The cancellation of a broker-principal employment contract. A listing may be terminated by death or insanity of either party, expiration of the listing period, mutual agreement, sufficient written notice, or the completion of performance under the agreement.

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Termination (lease)

The cancellation of a lease by the action of either party. A lease may be terminated by expiration of the term, surrender and acceptance, constructive eviction by lessor, or option when provided in the lease for breach of covenants.

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