Contract Chicanery

Definition of "Contract Chicanery"

Inserting provisions into a loan contract that severely disadvantage the borrower, without the borrowers knowledge, and sometimes despite oral assurances to the contrary. Prepayment penalties are perhaps the most frequently cited subject of such abuse.

Search Real Estate Glossary

Related Real Estate Glossary terms

Grantor Retained Unitrust (grut)

Irrevocable trust into which the grantor places assets and receives in turn a variable amount of inc ...

Realty

Same as term real estate: Also called real property. Anything permanently affixed to the land, such ...

Homeownership

Residing in a structure that the individual owns. ...

Adjuster

Individual employed by a property and casualty insurance company to settle on its behalf claims brou ...

Blind Pool Syndicate

Money raised by a syndicate promoter and placed into a fund prior to selecting the specific property ...

Gross Line

Total limit on the amount of coverage an insurer will underwrite on an individual risk. The amount u ...

Related Real Estate FAQ

What Are Closing Costs?

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

What Is A FHA Mortgage?

A FHA mortgage is when the government guarantees Federal Housing Authority loans. You can put down a ...

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership includin ...

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Are Comparables Or Comps?

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

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Gue ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

5 signs of house foundation problems Home Prices - The Extra Costs Why Use a Real Estate Agent? 6 Reasons you are not selling properties Should you Buy a Home with Cash?

FAQ

What is commission? What is a wraparound mortgage? What is a proration? What are closing costs? What is a CD?