Non Recourse
Definition of "Non recourse"
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.
Popular Real Estate Terms
Also called straight bankruptcy. A provision of the 1978 bankruptcy Reform Act providing for a persons property to be divided among creditors to satisfy his/her unpaid debts. Any debtor ...
A step's edge. ...
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Broker employed by and therefore loyal to the buyer. ...
Compilation of all real estate properties in a given tax district that are subject to real estate taxes. The tax roll indicates the taxable assessed values of all properties in the district ...
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Single mortgage or other encumbrance that covers more than one piece of real estate. ...
Compared to; relative to; against. ...
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