Tenancy

The right to occupy a property under agreed terms and conditions.

Tender

A process of selling, calling for purchasers to make their best offers in writing for that property by a given date.  Buyers offers are collected confidentially and the seller choses which offer is the most favourable.   A price is not advertised, allowing the market to decide the value of the home.

Title

A legal document evidencing a person's right to or ownership of a property.

Title Search

A check of the title records to ensure that the seller is the legal owner of the property and that there are no other claims or outstanding permits.

Top Up

An increase in existing borrowings from the borrower's existing lender/bank.

Transfer

A document registered at the Land Titles Office and noted on the Certificate of Title which verifies the change of ownership of a property.

Trustee

A person who holds or controls property for the benefit of another.