Leasehold Mortgage
Definition of "Leasehold mortgage"
A mortgage collaterized by a tenant's interest, usually structural improvements, in a leased parcel of property. A leasehold mortgage is subordinate to the landlord's land lease since it is a second lien by order of priority on the property. For example, John leases a parcel of commercial property. In order to construct a commercial office building, he obtains a leasehold mortgage to provide the necessary financing. The leasehold mortgage is subordinate to the land lease.
Popular Real Estate Terms
(1) Wide boards, generally two inches thick, attached to flooring or roof of a structure. (2) Light gauged ribbed metal sheets used for supporting a roof or floor. ...
Not attached to any parcel of land but merely a personal right to use the land of another. ...
The term land use succession definition can be looked at from two perspectives. While the general way to define land use succession would be “changes that occur over time in the use ...
Managing property directly at its location. The management functions may include showing prospective tenants the facilities, collecting rents, and doing upkeep on the property. ...
Structure of prefabricated units. ...
A step's edge. ...
A person has the option of canceling a contract previously agreed to. ...
Expenditures incurred to improve a specific real estate development; however, these improvements are not directly on the property. Example are curbs, driveways, and streets. ...
See accommodation endorser, maker, or party. ...
Have a question or comment?
We're here to help.