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Letter of Credit
Letter of Credit A commitment by a bank or other person that the issuer will honor drafts or other demands for payment upon full compliance with the conditions specified in the letter of credit.
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Commitment
A written promise to make or insure a loan for a specified amount and on specified items.
Bank
An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
Will
A written document, properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator.
Credit
An agreement in which a borrower receives something of value in exchange for a promise to repay the lender at a later date.
SIMILAR TERMS--------------------------------------
Letter of Intent
An informal, usually non-binding, agreement among parties indicating their serious desire to move forward with negotiations.
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Lender’s fee
Lender's fees cover fees such as arrangement fees, booking charges, administration fees etc.
Lender's escrow instructions
A lender's written instructions to the escrow company stating the conditions which must be met before the deed of trust can be recorded.
Lender's Instructions
A document that lenders prepare for the closing agent that outlines the requirements for loan closing.
Lessee
An individual (i.e., tenant) to whom property is rented under a lease.
Lessor
An owner who contracts into a lease with a tenant (lessee).
Letter of Credit
Letter of Intent
An informal, usually non-binding, agreement among parties indicating their serious desire to move forward with negotiations.
Level of Control on a Listing Agreement
The form used when specifying the level of control of the listing in its title and language.
Level term assurance
Pays out a lump sum if the borrower dies before the mortgage has been paid off. This is a set amount that does not decrease over time - regardless of how much of the mortgage has been paid off.
Leverage
Using someone else's money to purchase a property. Refers to the ability to use the investment as collateral for a loan.
Levy
To assess, seize or collect. To levy a tax is to assess a property and set the rate of taxation.
This dictionary contains 6433 terms. |
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