Obligatory
Definition of "Obligatory"
The legal requirement of a debtor, obligor, to pay a debt and the legal right of a creditor, obligee, to demand satisfaction of a debt or enforce payment in the event of default.
Popular Real Estate Terms
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Interest computations based only on the original principal. For example, the simple interest on a $100,000, 8% loan is $8,000. It is compared with compound interest which is applied to the ...
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Worth of the property part which is left subsequent to a condemnation action. ...
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