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) Financial ability and soundness of a business or individual to afford the purchase of property. (2) Worth of the dollar in real terms considering inflation. ...
Lender's written statement and accounting for the remaining balance, date of maturity, and interest rate on a mortgage. The lender is certifying this information to the borrower or any ...
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Federal agency within the Department of Housing and Urban Development that provides financing to home buyers, particularly those with little cash or with a need to lower monthly payments. ...
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See quantity survey method. ...
Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...
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