Latches are essential machine elements utilized by all sectors (military, automotive, consumer, manufacturing, etc.) with a growing need for active capabilities such as automatic release and reset, which require actuation. Shape memory alloy (SMA) actuation is an attractive alternative technology to conventional actuation (electrical, hydraulic, etc.) because SMA, particularly in the wire form, is simple, inexpensive, lightweight, and compact. This paper introduces a fundamental latch technology, referred to as the T-latch, which is driven by an ultrafast SMA wire actuator that employs a novel spool-packaged architecture to produce the necessary rotary release motion within a compact footprint. The T-latch technology can engage passively, maintain a strong structural connection in multiple degrees of freedom with zero power consumption, actively release within a very short timeframe (, utilizing the SMA spooled actuator), and then repeat operation with automatic reset. The generic architecture of the T-latch and governing operational behavioral models discussed within this paper provide the background for synthesizing basic active latches across a broad range of applications. To illustrate the utility and general operation of the T-latch, a proof-of-concept prototype was designed, built, and experimentally characterized regarding the basic functions of engagement, retention, release, and reset for a common case study of automotive panel lockdown. Based on the successful demonstration and model validation presented in this study, the T-latch demonstrates its promise as an attractive alternative technology to conventional technologies with the potential to enable simple, low-cost, lightweight, and compact active latches across a broad range of industrial applications.