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Note
Note A written instrument acknowledging a debt and promising payment
RELATED TERMS--------------------------------------
Instrument
A written legal document created to secure the rights of the parties participating in the agreement.
Debt
An amount owed to another.
SIMILAR TERMS--------------------------------------
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Non-recourse debt
A loan that, in the event of a default by the borrower, limits the lender's remedies to a foreclosure of the mortgage, realization on its assignment of leases and rents, and acquisition of the real estate.
Non-recurring closing costs
One-time fees paid at a real-estate settlement, including origination, appraisal, points, title insurance and credit report.
Non-resident alien
A person who is not a permanent resident or a citizen of the United States, and who is generally taxed on income from U.S. sources.
Non-status mortgage
For lenders without the borrower offering any proof of income and without a previous mortgage history.
Notary Public
A public officer who is authorized to witness and verify certain documents (e.g., contracts, deeds, mortgages).
Note
Note (original note)
A document signed by the borrower of a loan and stating the loan amount, the interest rate, the time and method of repayment and the obligation to repay.
Note rate
The interest rate stated on a mortgage note.
Notice of cessation
A notice that gives subcontractors 30 days and gives prime contractors 60 days to file liens from the date of cessation of work.
Notice of completion
A document recorded to give constructive notice that a building job has been completed.
Notice of default
A formal written notice to a borrower that a default has occurred and that legal action may be taken.
This dictionary contains 6433 terms. |
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