Inadmitted Asset


Definition of "Inadmitted asset"

Asset excluded from the financial statements submitted to the state insurance examiner because the asset has virtually no value in meeting claims in the event the insurance company must be liquidated. Also called non admitted asset.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Upset Date

provision in a written agreement allowing the prospective purchaser the right to cancel the contract ...

Travel Accident Insurance

Special-purpose health insurance policy that covers an insured for accidents while traveling. The po ...

White List States

States that allow the placement of surplus lines only with insurance companies that the states have ...

Ownership

Person or entity that has title or a right to something which is typically being held. Examples are ...

Nondiscrimination Rules

Rules stating that, under the tax EQUITY AND RESPONSIBILITY ACTS OF 1982 AND 1983 (TEFRA), a plan ca ...

Community Property

All property acquired after marriage, deemed to be the result of the joint efforts of both spouses ( ...

Related Real Estate FAQ

What Do I Need To Know About Whole Life Insurance?

Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death ...

What Is A CD?

A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed ...

What Is An Annuity?

An annuity is a long-term, interest-paying contract offered through an insurance company or financia ...

What Are Closing Costs?

Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property. ...

What Is A Contingency?

A contingency is a provision included in a sales contract stating that certain events must occur or ...

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. The ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Rent or Buy - the pros and cons How To Get A Loan with Bad Credit 7 Tips for a First Time Homebuyer What Must I Disclose When Selling My Home? What is the Best Time of Year to Buy a Home?

FAQ

What is equity? What is an interest rate? How Much Will My Principal Be? What is a seller takeback? What is a loan-to-value (LTD) ratio?