There, Their, They're

What is the difference between there, their and they're?

The words there, their and they're are different and shouldn't be confused. The confusion may occur because the three words are homophones, pronounced in very similar ways.

Their

Their indicates possession. It is a third person plural possessive adjective that shows that a particular thing belongs to them.
Examples:

• This is their house.
• Have you met their son?
• Can you give me their phone number?

There

There may function as an adverb, an adjective, a pronoun, a noun or an interjection:

1. As an adverb there refers to a place (as opposed to the word here).
Examples:

• Please sit over there.
• I met him there twice.

2. As an adjective there is used for emphasis, especially after a noun modified by a demonstrative adjective.
Examples:

• That person there ought to know the directions to town.
• Ask that man there. 

an adjective
3. A s a pronoun, it is used to introduce a clause or sentence.
Examples:

• There shall come a time.
• There is no hope.

4. As a noun it may mean 'that point'
Example:

• I'll get everything ready, and you take it from there.
• He stopped and went on from there.

5. As an interjection there expresses feelings such as relief, satisfaction, sympathy, or anger.
Examples

• There, now I can have some peace!
• There! It's done.

They're

They're is a contraction of they and are.
Examples

• I am so happy that they're coming tomorrow.
• They're the best.