Terrell Owens Firing -- A $50 Screw Job and BOOTED from His Home

Terrell Owens got the crappiest severance package ever when his indoor football league team fired him this week -- an eviction notice, plus a piddly $50 buyout for his 50% stake in the team ... TMZ has learned.

Sources close to T.O. tell TMZ the Allen Wranglers notified their star player, in writing, he had 48 hours to get out of the house they provided him -- and to hand over the keys to the 2012 Jeep Cherokee they gave him to tool around the Texas town.

But the biggest diss of all -- the $50 check the Wranglers wrote T.O. to repurchase his hefty share of the team's ownership! The financial screwing is most likely tied to the team's belief that T.O. breached his contract by missing a charity event and sitting out 2 away games.

But we're told T.O. is saying his contract allowed him to skip away games. As for the missed event ... we're told T.O. claims the team publicist told him the wrong date.

The whole matter could be settled in court -- as TMZ reported, T.O. is consulting with his lawyers since he feels he was wrongfully terminated and slandered in the team's media release regarding his firing.

The Wranglers have not returned calls for comment.