Measurements of the magnetic susceptibility, magnetization, electrical resistivity and neutron diffraction have been performed for the compound Fe(0.5)TiS(2) in which Fe atoms are intercalated between S-Ti-S tri-layers. It has been shown that this compound with a monoclinic crystal structure exhibits an antiferromagnetic (AF) ground state below the Néel temperature T(N) ≈ 140 K. Small deviations from the stoichiometry and some disordering effects caused by the additional low-temperature heat treatment do not affect substantially the AF state in Fe(0.5)TiS(2). According to neutron diffraction data the magnetic structure at 2 K is described by the propagation vector k = (1/4,0,1/4). The Fe magnetic moments with a value of (2.9 ± 0.1) μ(B) are directed at an angle of (78.5 ± 1.8)° to the layers. Application of the magnetic field at T < T(N) induces a metamagnetic phase transition to the ferromagnetic (F) state, which is accompanied by the large magnetoresistance effect (|Δρ/ρ| up to 27%). Below 100 K, the field-induced AF-F transition is found to be irreversible, as evidenced by magnetoresistance and neutron diffraction measurements. The magnetization reversal in the metastable F state is accompanied at low temperatures by substantial hysteresis (ΔH ∼ 100 kOe) which is associated with the Ising character of Fe ions.