Obligee


Definition of "Obligee"

The person to whom a debt or obligation is owed.

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Popular Real Estate Terms

Indemnity Bond

For loss of an obligee in the event that the principal fails to perform according to standards agreed upon between the obligee and the principal. ...

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 pa ...

Surety Bond

Contract by which one party agrees to make good the default or debt of another. Actually, three parties are involved: the principal, who has primary r ...

Straight Note

Loan agreement that generally requires payments of interest only over the term of the note. At the end of the term, the entire debt balance becomes pa ...

Federal Tax Lien

Placed by the federal government on a individual's real property for federal estate tax or income tax law violations. In the case of a federal estate ...

Agenda

List of items to be accomplished or considered in a preplanned meeting. ...

Popular Real Estate FAQ

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the principal and a certain amount to the interest. ...

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the interest rate. ...

What Are Closing Costs?

Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property. ...

What Is Title Insurance?

Title insurance is insurance that protects the lender and buyer against any losses incurred from disputes over the title of a property. ...

I Dont Know The Zip Code Of My Areas. How Do I Find An Agent That Is Right For Me In My Area.

Please refer to our directory, where you will be able to browse using Counties and/or Cities. ...

What Is Commission?

The fee an agent earns for the sale of a home-usually a percentage of the selling price. ...

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