MoneyU Glossary of Terms


MoneyU Glossary of Terms


Browse the glossary using this index

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T

Transfer On Death

See payable on death.

True Cost

The actual cost of something, as compared to what you think it will cost. For example, the ÔÇ£true costÔÇØ of a car does not just include the price you paid for the car, but also for things like gasoline, maintenance, repairs, auto insurance, etc. ItÔÇÖs important to determine the true cost of an item before you actually purchase it.

Trustee

The person who receives legal title to the assets in the trust but is legally obligated to hold, manage, and invest the trust assets for the benefit of the beneficiaries. The trustee's duties are set by the trust agreement and by law. Trustees who fail in their fiduciary duties can be sued and may be held liable for their actions and damages.

Truth in Lending Act

The Truth in Lending Act seeks to tell U.S. consumers important information about credit terms that can help them make informed credit choices and should protect them against inaccurate and unfair billing practices. The Truth in Lending Act was amended by, and includes, the Fair Credit Billing Act (see Dispute).

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