Equitable Lien
Definition of "Equitable lien"
Right of property owner to have his or her property used in satisfying a loan. Written contract of court judgment placing a lien on a parcel of property as collateral for a loan. An equitable lien may be applied as a matter of fairness and equity.
Popular Real Estate Terms
Government official who values real estate property for tax purposes and ascertains the annual property tax assessments that must be collected. ...
Time period for which one expects to keep property such as a real estate investment. ...
Something that is of good value for the money and an attractive deal. ...
To default on a loan means to intentionally or unintentionally miss several consecutive monthly payments over the course of a few weeks or months. Most borrowers learn the definition of ...
Absence of a personal liability such as when a creditor may seize an office building used as security for the obligation but cannot attach any other assets of the debtor. ...
The definition of obligee is the person to whom a debt or obligation is owed. An obligee is one party of a contract to who the other party, the obligor, is obligated. An obligee is also the ...
Items of real and personal property that usually have a long life, such as housing and other real estate. ...
Corporation having only one person, A corporation sole is primarily used for the purposes of a nonprofit ecclesiastic church related organization. Ina church, the corporation sole is headed ...
(1) Type of loan where the final payment is substantially greater than the previous payments; also termed partially amortized loan. A debt agreement might stipulate a balloon payment when ...
Have a question or comment?
We're here to help.