T

Tangible property

Physical articles, as distinguished from intangible assets such as rights, patents, copyrights and franchises. Examples include furniture, cars, jewellery and artwork (see intangible property).

Tenants in Common

Where you have a defined share of a property held jointly with another person (compare with Joint Tenant).

Term

The length of time over which a Mortgage loan is to be repaid.

Termination

The coming or bringing to an end of a lease, by mutual agreement, expiry of the lease, or by the exercise of a right of one of the parties.

Testator/Testatrix

The person making the will.

The Bar

A term used to describe the barristers’ branch of the legal profession.

Third Party

Someone joined into Court proceedings by a Defendant.

Title Information Document

A copy of the entries at the Land Registry which relate to the property and which is issued once the title has been registered after completion.

Tort

A civil wrong.

Trade mark

Any sign, symbol, feature or get-up that is capable of distinguishing one traders product, or service, from anothers.

Trade Mark Agent/Attorney

Member of the UK Institute of Trade Mark Attorneys.

Trade name

A name of a business or one of its products that identifies the product as belonging to the business.

Transaction at an Undervalue

A transaction in which the consideration received is significantly less than that given. In certain circumstances such a transaction can be challenged by an administrator, a liquidator or a trustee in bankruptcy.

Transfer Deed

The document that records the transfer of ownership of the property from the seller to the buyer. It is dated with the completion date, and will be sent to the Land Registry after Completion.