Triple net lease (NNN) is normally a commercial lease where the lessee pays rent and utilities as well as three other types of property expenses: insurance, maintenance, and taxes. Triple net leases are very popular for investors because they...
wex definitions
TRO
See: temporary restraining order
[Last updated in August of 2021 by the Wex Definitions Team]
trover
Trover refers to a common law action for the recovery of the value of personal property that has been wrongfully converted by another person. It is a type of lawsuit that allows the original owner of the property to seek monetary compensation...
true bill
True bill (also called true bill of indictment) refers to a decision to indict a criminal defendant by a Grand Jury. When a Grand Jury decides the prosecution has provided enough evidence to show probable cause, they give a true bill which...
trust
A trust is a form of division of property rights and a fiduciary relationship, in which ownership of assets goes to a third party, known as a trustee, and the beneficial enjoyment goes to the beneficiary. The person who transfers the property...
trust administration
Trust administration refers to the tasks associated with managing the assets, distributions, and filings of a trust. The tasks can often be quite complex and time sensitive. The trustee responsible for trust administration has fiduciary...
trust beneficiary
The trust beneficiary is the party who stands to benefit from a trust. These benefits can include income generated by the trust assets, the assets themselves, or other advantages as stipulated by the terms of the trust.
[Last updated...
trust corpus
The term “corpus” is Latin for "body.” A trust corpus is the "body" of the trust. This is the property that is transferred into the trust; also known as the trust res. A trust corpus is one of the fundamental elements that has to be defined...
trust declaration
Trust declaration is a document of trust either in written or oral form. It binds the trustee to be appointed to manage the assets for the benefit of a third party. It usually contains the list of the assets, the trust’s purpose, the way of...
trust deed
Trust deed (commonly referred to as a deed of trust) is a type of secured real-estate transaction that some states like California and Massachusetts use instead of mortgages. See State Property Statutes.
To finance property...