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Voluntary conveyance
Voluntary conveyance Voluntarily signing over to a lender the property pledged as collateral on a defaulted loan.
RELATED TERMS--------------------------------------
Lender
A term which can refer to the institution making the loan or to the individual representing the firm.
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.
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.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
SIMILAR TERMS--------------------------------------
Voluntary lien
A voluntary lien by the owner such as a mortgage.
PREVIOUS AND NEXT TERMS--------------------------------------
Virtual storefront
An online business presence for sales
Void
Something that is unenforceable.
Voidable
A situation which is capable of being unenforceable but is not so unless direct action is taken.
Voidable contract
A contract that seems to be valid on the surface but may be rejected or disaffirmed by one or both of the parties.
Volatile organic compounds
Carbon compounds that tend to be emitted as gases into the air. Organic chemicals are widely used as ingredients in household products.
Voluntary conveyance
Voluntary lien
A voluntary lien by the owner such as a mortgage.
This dictionary contains 6433 terms. |
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