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Glossary of Terms > T > Transfer of Ownership

Transfer of Ownership

The means by which the ownership of a property officially changes hands. All of the following situations are considered to be transfers of ownership: the purchase of a property using or "subject to" a mortgage; the assumption of the mortgage by the property purchaser; and any exchange of possession of the property under a land sales contract or land trust device. Depending on where you reside and what the circumstances are, taxes may apply.

T Terms

Teaser Rate

Temporary Buydown

Term

Timeshare

Title

Title Insurance

Total Expense Ratio

Total Interest Payments

Transfer of Ownership

Treasury Index

Truth-In-Lending

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