Title
A legal document as evidence of a person's right to or ownership of a property. Title Company
A company specializing in examining and insuring titles to real estate.

Title Insurance
Insurance designed to protect the lender (lender's policy) or the buyer (owner's policy) against loss from disputes over ownership of a property.

Title VI of the Civil Rights Act of 1964
Title VI prohibits discrimination on the basis of race, color, or national origin in programs and activities receiving federal financial
assistance.

Title Search
To check of the title records to ensure that the seller is the legal owner of the property and no liens or other claims outstanding.

Transfer Tax
State or local tax payable when title passes from one owner to another.

Treasury index
An index used to calculate interest rate changes for certain adjustable-rate mortgages.

Truth-in-Lending
A federal law requiring lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.

Two-Step Mortgage
An adjustable-rate mortgage (ARM) that has one interest rate for the first five or seven years of its mortgage term and a different interest rate for the remainder of the amortization term.