Mortgage glossary - T

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Mortgage terms defined on this page:

• Tenant
• Tenants in Common
• Title Deeds

Tenant

This term describes someone who has the right to occupy property under the terms and conditions set out in a lease or rental agreement. They should pay rent to a landlord to occupy the property. A tenant can also describe the owner of a leasehold who pays ground rent to a freeholder.
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Tenants in Common

This is an arrangement where more than one person possesses a property but ownership is specifically apportioned. In legal terms, there is a difference between right of possession and right of ownership.
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Title Deeds

Ownership of a property’s ‘title’ denotes ownership of the property. The Title Deeds are the legal documents which show this, and they set out all the past transfers of the property. If your property is in England or Wales, you can obtain details of your Title Deeds from the HM Land Registry.
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THINK CAREFULLY BEFORE SECURING ANY DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.