Tools & Resources

Transfer Tax

Depending on the location, tax levied by state or local governments when property passes from one owner to another.

Trustee

A person or firm who has the legal responsibility to hold and manage property in the best interest of the owner.

Truth-in-Lending Act

A federal law, part of The Consumer Credit Protection Act, requiring lenders to clearly disclose key credit terms in a standard format. The Act also gives you the right to cancel certain types of loan contracts within three business days (see Right of Rescission).