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Senior classes
Senior classes With regard to securities, describes the classes with the highest priority to receive the payments from the underlying mortgage loans.
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Priority
The order of position, time or place. The priority of liens is generally determined by the chronological order in which the lien documents are recorded; tax liens, however, have priority even over previously recorded liens.
Mortgage
A legal document pledging property as security for the payment of a loan.
SIMILAR TERMS--------------------------------------
Senior loan
A real estate loan in the first priority position.
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Seller's expenses
Include cost of abstract, documentary stamps on deed, real estate commission, recording mortgage, survey charge, escrow fees, attorney's fee.
Seller's market
More buyers than sellers.
Seller's real property disclosure form
As required by Nevada Real Estate Division Code NRS 113. 100-113.150, a transferee (buyer) of residential real property is entitled to a statement from the transferor (seller) which provides information regarding the physical condition of the property.
Selling agent
The agent who obtains a buyer. A selling agent may represent the buyer, or may be a subagent of the seller.
Semi-custom home
A house in which the buyer cannot alter the layout, but can specify amenities such as type of cabinets and floor coverings.
Senior classes
Senior loan
A real estate loan in the first priority position.
Separate account
A relationship where an investment manager or adviser is retained by a single pension plan sponsor to source real estate product under a stated investment policy exclusively for that sponsor.
Separate property
Under community property law, property owned solely by either spouse before the marriage, acquired by gift or inheritance after the marriage or purchased with separate funds after the marriage.
Septic system
A private sewerage system consisting of a tank, distribution box and leaching field.
Septic Tank
An Underground tank in which sewage from the house is reduced to liquid by bacterial action and drained off.
This dictionary contains 6433 terms. |
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