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First mortgage
First mortgage Mortgage holding priority over the claims of subsequent lenders against the same property.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Priority
The order of position, time or place. The priority of liens is generally determined by the chronological order in which the lien documents are recorded; tax liens, however, have priority even over previously recorded liens.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
SIMILAR TERMS--------------------------------------
First charge
If your property is collateral for more than one property and the borrower defaults on payments, the lender with First Charge has the option to repossess the home.
First lien
Primary claim by the lender for satisfaction of outstanding debt. A first mortgage creates a first lien.
First refusal right, or right of first refusal
A lease clause giving a tenant the first opportunity to buy a property or lease additional space in a property at the same price and on the same terms and conditions as those contained in a third-party offer that the owner has expressed a willingness to accept
First Time Buyer (FTB)
Someone who is buying a home for the first time.
First-generation space
Generally refers to new space that is currently available for lease and has never before been occupied by a tenant
First-loss position
The position in a security that will suffer the first economic loss if the underlying assets lose value or are foreclosed on.
PREVIOUS AND NEXT TERMS--------------------------------------
Fire rating
A rating of the length of time it takes a fire to penetrate a barrier. Designates the ability of a material to contain a fire in a carefully controlled test setting for a specified period of time.
Fire wall
A buffer composed of fire-resistant material.
Firm commitment
A lender’s agreement to make a loan to a specific borrower on a specific property.
First charge
If your property is collateral for more than one property and the borrower defaults on payments, the lender with First Charge has the option to repossess the home.
First lien
Primary claim by the lender for satisfaction of outstanding debt. A first mortgage creates a first lien.
First mortgage
First refusal right, or right of first refusal
A lease clause giving a tenant the first opportunity to buy a property or lease additional space in a property at the same price and on the same terms and conditions as those contained in a third-party offer that the owner has expressed a willingness to accept
First Time Buyer (FTB)
Someone who is buying a home for the first time.
First-generation space
Generally refers to new space that is currently available for lease and has never before been occupied by a tenant
First-loss position
The position in a security that will suffer the first economic loss if the underlying assets lose value or are foreclosed on.
Fiscal policy
The government's policy in regarding to taxation and spending programs.
This dictionary contains 6433 terms. |
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