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Participation mortgage
Participation mortgage A mortgage loan wherein the lender has a partial equity interest in the property or receives a portion of the income from the property.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Lender
A term which can refer to the institution making the loan or to the individual representing the firm.
Equity
The difference between the market value of a property and the amount still owed on the mortgage.
Interest
Money paid to a lender as compensation for money that is borrowed.
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--------------------------------------
Partial claim
A loss mitigation option offered by the FHA that allows a borrower, with help from a lender, to get an interest-free loan from HUD to bring their mortgage payments up to date.
Partial payment
A payment that is not sufficient to cover the scheduled monthly payment on a mortgage loan.
Partial release
A release of a portion of property covered by a mortgage.
Partial release clause
A mortgage provision under which the mortgagee agrees to release certain parcels from the lien of the blanket mortgage upon payment of a certain sum of money by the mortgagor.
Partial sales
The sale of an interest in real estate that is less than the whole property.
Partial taking
The taking of part of an owner's property under the laws of eminent domain.
Partial zoning
Zoning that does not consider its effect on other areas.
Participating debt
In addition to collecting a contract interest rate, participating debt allows the lender to have participatory equity rights through a share of increases in income and-or increases in residual value over the loan balance or original value at the time of loan funding.
Participation certificates
Certificates issued by Freddie Mac backed by pools of mortgages.
Participation financing
Where a lender becomes a partner in a development.
Partition
Co-tenants who wish to terminate their co-ownership may file an action in court to partition the property. Partition is a legal way to dissolve the relationship when the parties do not voluntarily agree to its termination.
Partnership
An association of two or more individuals who carry on a continuing business for profit as co-owners.
Parts per billion (PPB)
Units commonly used to express contamination ratios, as in establishing the maximum permissible amount of a contaminant in water, land, or air. These ratios can also be expressed in "parts per million (ppm)."
Parts per million (PPM)
Units commonly used to express contamination ratios, as in establishing the maximum permissible amount of a contaminant in water, land, or air. These ratios can also be expressed in "parts per billion (ppb)."
Party in interest
Under ERISA's 2002 Modernization Act: Parties in interest include employers, unions and, in certain circumstances, fiduciaries. It excludes service providers and their affiliates. Fiduciaries would only be parties in interest where they act on behalf of a plan sponsor in entering into a transaction.
Party wall
A wall that is located on or at a boundary line between two adjoining parcels of land and is used or is intended to be used by the owners of both properties.
Party wall easement
A party wall can be an exterior wall on a building that straddles the boundary line between two lots, or it can be a commonly shared partition wall between two connected properties.
PREVIOUS AND NEXT TERMS--------------------------------------
Partial taking
The taking of part of an owner's property under the laws of eminent domain.
Partial zoning
Zoning that does not consider its effect on other areas.
Participating debt
In addition to collecting a contract interest rate, participating debt allows the lender to have participatory equity rights through a share of increases in income and-or increases in residual value over the loan balance or original value at the time of loan funding.
Participation certificates
Certificates issued by Freddie Mac backed by pools of mortgages.
Participation financing
Where a lender becomes a partner in a development.
Participation mortgage
Partition
Co-tenants who wish to terminate their co-ownership may file an action in court to partition the property. Partition is a legal way to dissolve the relationship when the parties do not voluntarily agree to its termination.
Partnership
An association of two or more individuals who carry on a continuing business for profit as co-owners.
Parts per billion (PPB)
Units commonly used to express contamination ratios, as in establishing the maximum permissible amount of a contaminant in water, land, or air. These ratios can also be expressed in "parts per million (ppm)."
Parts per million (PPM)
Units commonly used to express contamination ratios, as in establishing the maximum permissible amount of a contaminant in water, land, or air. These ratios can also be expressed in "parts per billion (ppb)."
Party in interest
Under ERISA's 2002 Modernization Act: Parties in interest include employers, unions and, in certain circumstances, fiduciaries. It excludes service providers and their affiliates. Fiduciaries would only be parties in interest where they act on behalf of a plan sponsor in entering into a transaction.
This dictionary contains 6433 terms. |
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