Purchase Money Mortgage
PURCHASE MONEY MORTGAGE
A security device entered into when the seller of property, as opposed to a bank or financial institution, advances a sum of money or credit to the purchaser in return for holding the mortgage on the property.
The seller of the property, rather than a lending institution, is the mortgagee. These mortgages are given concurrently with the conveyance of the land or the transfer of the items sold.
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Purchase , pur·chase / ˈpərchəs/ • v. [tr.] 1. acquire (something) by paying for it; buy: Mr. Gill spotted the manuscript at a local auction and purchased it fo… canzone , canzone •abalone, Albinoni, Annigoni, Antonioni, baloney, Bodoni, boloney, bony, calzone, cannelloni, canzone, cicerone, coney, conversazione, corona… Embezzlement , The fraudulent conversion of another's property by a person who is in a position of trust, such as an agent or employee.
Embezzlement is distinguishe… Lien , LIEN
LIEN (Heb. שִׁעְבּוּד נְכָסִים, Shibud Nekhasim).
The Concept
Jewish law enables the creditor to exercise a lien over all the debtor's property,… Proceeds , proceeds •adze (US adz) •Everglades • Palisades •Leeds • proceeds • Perseids •Geminids •besides, ides •upsides • Mods • towards • Rhodes •crossroads… Escheat , Escheat
The power of a state to acquire title to property for which there is no owner.
The most common reason that an escheat takes place is that an…
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NEARBY TERMS
Purchase Money Mortgage