Security Interest
Creditor's control over property. When a loan is secured with pledged assets, the creditor has the right to go to court to obtain possession of the property if the borrower defaults. The creditor can usually sell the property, apply the amount received to the balance owed, and sue for any still remaining unpaid balance. State laws differ as to creditor's rights and obligations.
Popular Real Estate Terms
Measure of land representing one square mile. A section equals 640 acres. ...
Generally, a turnaround means a performance improvement. The term applies to various economic fields and real estate too. What does turnaround mean? After a prolonged recession, a ...
Precalculated tables providing the present values of $1 or an annuity of $1 for different time periods and at different discount rates. ...
Degree of completion or accomplishment such as a home that is 70% completed. Condition of real property. Position of an item. Legal standing such as of a case. ...
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Administering and directing the activities of a real estate brokerage firm to assure they are in compliance with regulations and policies. ...
Single-family dwelling attached to other units by common walls. ...
Financial standing of a debtor as a basis to pay obligations. ...
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