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Letter of Intent
Letter of Intent
An informal, usually non-binding, agreement among parties indicating their serious desire to move forward with negotiations.
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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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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
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.
Letter of Intent
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.
Liabilities
A person's financial obligations. Liabilities include long-term and short-term debt, as well as any other amounts that are owed to others.
This dictionary contains 6433 terms. |
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