ABANDONMENT CLAUSE
In a property insurance contract, it is a clause that states that in some circumstance, the owner of the property may abandon a damaged or lost property but still has the right to claim a settlement amount in full. For example, if the property of the insured party has to way to be recovered, or if the damage is too severe that the cost of repair is more than the actual value, the insured party may abandon the property but he or she is still entitled to a settlement amount in full.
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Torrens Certificate
Certificate issued by government agencies stating property ownership. The document allows transferring a property without completing the required t ...
Lien
Creditor’s legal right of ownership to take possession or sell the collateral property of debtor who failed to meet the obligations specified ...
Incorporated Trustee
Corporation, normally a bank trust department or trust company, authorized to act as the Fiduciary for a private trust. This is different to an ind ...
Jurisdiction Risk
The inherent risk that arises when doing business in a foreign jurisdiction or when an investor is exposed to perils due to unexpected changes in l ...
Joint Tenants with Right of Survivorship - JTWROS
A brokerage account owned by at least two individuals. All joint owners share equal right to the account’s assets and are given survivorship ...
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