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Statutory redemption
Statutory redemption The right of a defaulted property owner to recover the property after its sale by paying the appropriate fees and charges.
RELATED TERMS--------------------------------------
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.
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State and Local Housing Programs
Unique housing finance programs to assist first time home buyers and low to moderate housing groups.
Statement
A detailed record of transactions in a bank customer's account(s) for a certain period, usually each month, which shows debits, credits, transfers, payroll deposits, account balance, check fees, service charges, ATM activity, etc.
Statement of information
Statements provided to the escrow agent verifying pertinent data identifying the grantor, grantee, or borrower.
Statement of reasons
The Federal Equal Credit Opportunity Act (ECOA) (Title VII of the Consumer Protection Act) requires that a lender-creditor who denies an application for credit must provide the applicant with a statement of reasons, or written notification of the applicant's right to obtain a statement of reasons, within thirty days after receipt of a completed application for credit.
Statute
A law established by an act of a legislature.
Statute of frauds
State law (founded on ancient English law) which requires that contracts must be reduced to written form if it is to be enforced by law.
Statute of limitations
A law barring all right of redress after a certain period of time from the moment when a cause of action first arises.
Statutory law
The laws, rules and regulations enacted by legislatures and other governing bodies.
Statutory lien
An involuntary lien, includes tax liens, judgment liens, mechanic liens, etc.
PREVIOUS AND NEXT TERMS--------------------------------------
Statute
A law established by an act of a legislature.
Statute of frauds
State law (founded on ancient English law) which requires that contracts must be reduced to written form if it is to be enforced by law.
Statute of limitations
A law barring all right of redress after a certain period of time from the moment when a cause of action first arises.
Statutory law
The laws, rules and regulations enacted by legislatures and other governing bodies.
Statutory lien
An involuntary lien, includes tax liens, judgment liens, mechanic liens, etc.
Statutory redemption
Steel framing
A construction method used by commercial and residential builders.
Steering
The illegal practice of channeling homeseekers interested in equivalent properties to particular areas, either to maintain the homogeneity of an area or to change the character of an area to create a speculative situation.
Stepped rate mortgages
The interest rate is tiered and alters over time.
Step-up lease (graded lease)
A lease specifying set increases in rent at set intervals during the term of the lease.
Sticky downward
In a given real estate market, home prices fall more slowly in a bust than they rise in a boom. Homeowners can simply take their homes off the market if they don't receive acceptable offers.
This dictionary contains 6433 terms. |
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