What Is a Temporary New Account? A temporary new account is a holding place set up within a fund to hold a balance as a result of a significant cash inflow or outflow to the fund. The account is set up to temporarily hold these funds until they can be distributed to unitholders, used to acquire additional
What Is Tenancy in Common (TIC)? Tenancy in Common (TIC) is a legal arrangement in which two or more parties share ownership rights in a real estate property or parcel of land. Each independent owner may control an equal or different percentage of the total property, whether commercial or residential. The parties are known as
What Is Tenancy at Sufferance? Tenancy at sufferance is an agreement in which a property renter is legally permitted to live on a property after a lease term has expired but before the landlord demands the tenant vacate the property. If a tenancy at sufferance occurs, the original lease conditions must be met including the
What Is a Tenancy-at-Will? A tenancy-at-will is a property tenure that can be terminated at any time by either the tenant or the owner/landlord. It exists without a contract or lease and usually does not specify the duration of a tenant’s rental or the exchange of payment. The agreement is governed by state law and the
What Is a Tender? The term tender refers to an invitation to bid for a project. Tendering usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline. The word tender can also refer to the acceptance of a formal offer, such as
What Is a Tender Offer? A tender offer is a bid to purchase some or all of shareholders’ stock in a corporation. Tender offers are typically made publicly and invite shareholders to sell their shares for a specified price and within a particular window of time. The price offered is usually at a premium to
What Is a Tenement? A tenement can refer to any multi-occupancy residential rental building. However, the term is associated most often with crowded, run-down buildings with low-quality living conditions. Tenement buildings date back to the growth of the industrial revolution in the 19th century and the sudden influx of people moving to cities. In modern times
What Is a Tenure Payment Plan? A tenure payment plan (or annuity plan) is a way to receive reverse mortgage proceeds in which the borrower gets equal monthly payments for as long as they live in the home. The tenure payment plan has an adjustable interest rate. Monthly payments are calculated under the assumption that
What Is The Tequila Effect? The Tequilla Effect (also known as “Tequilla Shock” or the “Tequilla Crisis”) is a slang term for financial or economic fallout resulting from the Mexican economy. The Mexican peso (MXN) has been the official currency of Mexico since the country gained its independence in 1821. The 1994 Mexican currency crisis was a
What Is the Term Auction Facility? The Term Auction Facility (TAF) was a monetary policy used by the Federal Reserve to increase liquidity in the U.S. credit markets. The TAF began following the financial crisis of 2007. It allowed the Federal Reserve to auction set amounts of collateral-backed short-term loans to depository institutions (savings banks, commercial banks
