chAPTER 14-1 Flashcards
PLEDGING PROPERTY AS COLLATERAL FOR A LOAN THROUGH A MORTGAGE OR DEED OF TRUST
HYPOTHECATE
THE PLEDGING OF REAL PROPERTY AS COLLATERAL FOR A LOAN, USUALLY THROUGH A MORTGAGE OR DEED OF DEED OF TRUST
HYPOTHECATION
WHEN A PERSON DIES WITHOUT A WILL, PROPERTY WILL PASS TO HEIRS ACCORDING TO STATE LAW
INTESTATE
A CHARGE OR CLAIM AGAINST A PROPERTY TO TO ENFORCE A DEBT
LIEN
ONE-THOUSANDTH OF ONE DOLLAR, 15 MILLS=$.015, USED TO CALCULATE REAL ESTATE TAXES
MILL
AN AGREEMENT BETWEEN THE BORROWER AND LENDER THAT PROVIDES SECURITY FOR A DEBT, A TWO PARTY AGREEMENT
MORTGAGE
THE LENDER WHO RECEIVES THE MORTGAGE
MORTGAGEE
THE BORROWER, WHO GIVES THE MORTGAGE
MORTGAGOR
A DOCUMENT INDICATING THE DEBT HAS BEEN PAID, ALSO CALLED A RELEASE
SATISFACTION
THE PERSON WHO CREATES A TRUST
TRUSTOR
CHARGING MORE INTEREST THAN IS ALLOWED BY LAW, LENDER/CREDITOR OR NON-LENDER/CREDITOR
USURY