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Release clause
Release clause A provision found in many blanket mortgages enabling the mortgagor, upon payment of a specific sum of money, to obtain a partial release of particular portions or parcels of the collateral.
RELATED TERMS--------------------------------------
Mortgagor
The borrower in a mortgage agreement.
Release
An instrument releasing property from the lien of the mortgage, judgment, etc.
Collateral
In a home loan, the property is the collateral. The borrower risks losing the property if the loan is not repaid according to the terms of the mortgage or deed of trust.
SIMILAR TERMS--------------------------------------
Release
An instrument releasing property from the lien of the mortgage, judgment, etc.
Release deed
A document that transfers all rights given a trustee under a deed of trust loan back to the grantor after the loan has been fully repaid.
Release of liability
The release of an old borrower from further responsibility for repayment of an assumed loan.
PREVIOUS AND NEXT TERMS--------------------------------------
Reinstatement
To bring something back to its prior position, as in restoring a defaulted loan to current status.
Reissue rate
A charge for a title insurance policy if a previous policy on the same property was issued within a specified period of time.
REIT (Real Estate Investment Trusts)
A business trust or corporation that combines the capital of many investors to acquire or provide financing for real estate.
Rejection
Proposing any deviation from the terms of the offer constitutes a rejection of the original offer and becomes a new offer.
Release
An instrument releasing property from the lien of the mortgage, judgment, etc.
Release clause
Release deed
A document that transfers all rights given a trustee under a deed of trust loan back to the grantor after the loan has been fully repaid.
Release of liability
The release of an old borrower from further responsibility for repayment of an assumed loan.
Reliction
An increase of the land by the permanent withdrawal of the ocean or a river.
Relinquished property
The property given up in the exchange.
Relocation benefits
Money and other consideration that an employer gives to employees who move or are transferred at the company’s behest.
This dictionary contains 6433 terms. |
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