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Senior loan
Senior loan A real estate loan in the first priority position.
RELATED TERMS--------------------------------------
Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
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.
SIMILAR TERMS--------------------------------------
Senior classes
With regard to securities, describes the classes with the highest priority to receive the payments from the underlying mortgage loans.
PREVIOUS AND NEXT TERMS--------------------------------------
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
With regard to securities, describes the classes with the highest priority to receive the payments from the underlying mortgage loans.
Senior loan
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.
Servicer
An organization that acts on behalf of a trustee for the benefit of security holders.
This dictionary contains 6433 terms. |
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