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Payee
Payee The person to whom a debt instrument, such as a check or promissory note, is made payable; obligee, the "receiver."
RELATED TERMS--------------------------------------
Debt
An amount owed to another.
Instrument
A written legal document created to secure the rights of the parties participating in the agreement.
Note
A written instrument acknowledging a debt and promising payment
Obligee
The person who will receive the outcome of an obligation.
SIMILAR TERMS--------------------------------------
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Pass-through security
A security issued by the Government National Mortgage Association (Ginnie Mae) to mortgage investors. Cash flows from the underlying block individual mortgage loans are "passed through" to the holders of the securities in pro rata share, including loan prepayments.
Pass-throughs
Payments on securities sold in the secondary market that are sent directly to investors.
Patent
The instrument that conveys real property from the state or federal government to an individual.
Patent defect
A defect that is obvious from a reasonable inspection of a property.
Patio
An interior courtyard or a paved backyard area.
Payee
Payment cap
The limit on the amount the monthly payment can be increased on an adjustable-rate mortgage when the interest rate is adjusted.
Payment change date
The date when a new monthly payment amount takes effect on an adjustable-rate mortgage (ARM) or a graduated-payment mortgage (GPM).
Payment holiday
A feature of flexible mortgages. The borrower skips one or a series of monthly repayments.
Payor
The debtor on a promissory note or the party who makes payment to another.
Payout ratio
The percentage of the primary earnings per share, excluding extraordinary items, paid to common stockholders in the form of cash dividends during the trailing 12 months.
This dictionary contains 6433 terms. |
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