|
| Home Loan Mortgage Refinance Loan |
|
Menu
|
Free Classifieds and Advertising for Individuals and Businesses at www.KeepSane.com
COMMINGLING To mingle or mix; for example, to deposit client funds in the broker's personal or general account. A licensee found guilty of commingling can have the license suspended or revoked by the Real Estate Commission. ASSIGNMENT The transfer of the right, title and interest in the property of one person, the assignor, to another, the assignee. In real estate, there are assignments of mortgages, contracts, agreements of sale, leases, and options, among others. TRUST FUND ACCOUNT An account set up by a broker at a bank or other recognized depository, into which the broker deposits all funds entrusted to him by his principal or others. LIFE ESTATE Any estate in real or personal property which is limited in duration to the life of its owner or the life of some other designated person. POWER OF ATTORNEY A written instrument authorizing a person(the attorney-in-fact) to act as the agent on behalf of another to the extent indicated in the instrument. PREPAYMENT Full or partial repayment of the principal before the contractual due date. PERMANENT FINANCING A long-term loan, as opposed to an interim loan. |
Copyright © 2004-2005 | www.WeWillBuyYourHouseFast.com | Privacy Policy |