From TDN

Camera Swapping

So your in game and want to go into camera mode or 3rd person mode, what do we do?

There are hotkeys in Torque or also known as keybinds, that allow you to interact with the interface or environment. We will focus on the camera controls. By default "alt+c" will cause the camera to go into free mode or "Observer" mode as known by the engine. Simply press "alt+c" again to return to your character. If you want to go into 3rd person mode just press tab. By default that is the key assigned to that task.

You are now ready to master your camera, player!