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T

Tenure

The method by which property is owned. There are 3 types of tenure:    freehold, leasehold and...

Tenants in common

If you own a property as tenants in common, this means that it belongs to you and the other owner(s) jointly, but that you all also own a specific share of its value. It is up to you to decide how much each share will be. You can give away, sell or mortgage your share. If you die, your share of...

Transfer of Equity

A transfer of equity happens when the owner of a property wants to add one or more people to the legal register alongside themselves. Or they may want to remove one or more people other than themselves from the legal...

Title Number

When a property is registered Land Registry gives it a unique reference number, called a ‘title number’. For example, a registration in Telford may be allotted the Title number...

Transfer at Undervalue

The transfer of property or an interest in it (for example a transfer by the owner into the joint names of himself and another), by way of gift, or for a price less than the current market value of the...

Title Plan

A scale plan based on the Ordinance Survey (scale of 1:1250) and often contains coloured markings referenced in the TItle...

Title Register

The register of title contained at the Land Registry contains the details relating to the property.Each title register for a registered property in England and Wales is in three parts: property register - a description of the property and any rights that may benefit the propertyproprietorship...

Transfer

The Transfer, sometimes referred to as the Purchase Deed, is the document that transfers the legal ownership of a property from the seller to the buyer. It is drawn up in a specific way, in accordance with Land Registry rules. The seller must always sign the Transfer and the buyer should also sign...

Taper Relief

Where the total chargeable value of all gifts made by the deceased between three and seven years of death and they come to more than the Inheritance Tax threshold at the time of death, taper relief  is due. Taper relief effectively reduces the amount of IHT payable on the...

Testator

Someone who has made a will. (The female version of this word is...

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