Cognovit Clause
Definition of "Cognovit clause"
Provision in a loan agreement where a debtor authorizes a judgment against him in the event of a default. These agreements are widely restricted, but when they are lawful, the creditor is empowered to appear in court and enter judgment against the debtor.
Popular Real Estate Terms
Exposure can have various meanings in real estate and insurance, depending on the context. Let’s have a thorough look at these scenarios! Exposure as property’s ...
Residential or office structure adjacent to water such as a lake. Such property has a higher value because of the greater demand for it. ...
Threat of violence to obtain a contract. ...
Founded in1934 and located in Chicago, IL with a 1993 membership of 8,300, the IAAO seeks to ameliorate assessment standards as well as to perform ongoing property assessment research. The ...
Changes occurring in neighborhoods over time. The neighborhood life cycle includes the phases of birth, early growth, maturity, and decline. Not all neighborhoods pass through them more ...
Contract containing provisions of the insurance policy specifying who the parties are, what amounts and due dates, deductibles, time period, ceilings, kind of property., location of ...
Entrance or path to a land parcel. Passageway existing from property. An egress may lead to a roadway or some other form of exit. ...
(1) When used as a noun, refers to journals or ledgers. (2) When used as a verb, refers to the recording of an entry. ...
(1) Bracket used to support an extended eave or cornice on the outside of a house. (2) Truss or beam projection beyond its base and supported by its strength and rigidity, such as a ...
Have a question or comment?
We're here to help.