We consider the theoryT IT of infinite terms. The axioms for the theoryT IT are analogous to the Mal'cev's axioms for the theoryT IT of finite terms whose models are the locally free algebras. Recently Maher [Ma] has proved that the theoryT IT in a finite non singular signature plus the Domain Closure Axiom is complete. We give a description of all the complete extension ofT IT from which an effective decision procedure forT IT is obtained. Our approach considers formulas (...) built up with syntactic terms containing pointers. Using such a technique, the analysis of the theoryT IT can be carried out in analogy with Mal'cev's analysis ofT FT. Our results follow from an effective quantifier elimination procedure for formulas with pointers. (shrink)