DEFEASANCE CLAUSE
A mortgage provision indicating that the borrower will be given the title to the property once all mortgage terms are met. The defeasance clause is not required in states using property liens as collateral for a mortgage. In this sense, the clause is a substitute for collateral. Most states allow property liens when mortgages are issued, and don't follow the common law theory requiring a defeasance clause. In real estate, a lien gives the mortgagee the right to foreclose the property upon default of the terms in order to recoup what was owed.
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Child Support
Monetary payments made to the custodial parent after finalizing divorce proceedings. The court awards the terms of the child support, which are nor ...
SBWEI
Salomon Brothers World Equity Index (SBWEI) is an index measuring the performance of fixed-income securities and equity securities on domestic and ...
Proportional Tax
It is also known as flat tax. This income tax requires the same percentage of income from all taxpayers, whether their earnings are big or small.
SEC Form 10SB12B
SEC Form 10SB12B is also referred to as the Initial Registration of Securities for Small Business Form. This means that SEC Form 10SB12B is a filin ...
Fair Credit Reporting Act - FCRA
FCRA regulates the collection of credit information and access to your credit report. This act was passed to guarantee accuracy, fairness, and priv ...
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