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.
POPULAR TERMS
Sell To Open
Sell To Open is a phrased used in options. It is when a short position opens in an option transaction which means that the investor is starting or ...
Own-Occupation Policy
A policy that covers people who become disabled and are unable to perform majority of occupational duties that they have been trained to perform.
Other Post-Retirement Benefits
These are benefits given to employees during their retirement years, other than pension distributions. Most benefits include medical plans and life ...
LIFO Reserve
Difference between the First In, First Out (FIFO) inventory and Last In, First Out (LIFO) inventory in accounting. The figures signify the amount o ...
Per Diem Interest
It refers to the interest charge on a loan for one or more days. This doesn’t necessarily mean that the interest compounds daily, it simply r ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
Principles of Trading: Leverage and Margin
All novice and seasoned traders need to befriend these two great tools to achieve success in trading: leverage and margin.
...
A Guide to Your Personal Income Tax: Steps to Take before April 15
Taxpayers, remember these two dates when filing your tax return: December 31 and April 15. We have previously discussed what to do before the year ...
Buying a Home: Obtaining a Homeowners Insurance
You are one step closer to acquiring your dream house, and you want to make sure it has substantial protection against any disaster or occurrence t ...
A Primer on Retirement Planning
Every person dreams of enjoying their lives once they reach their golden years. Most people desire living in a house with a beach front view or a m ...
Digesting Financial Statements: Earnings
For assessing how a company performed in a given period, the relation between income and cash flow statements should be taken into account. Several ...
ECONOMIC CALENDAR
Time | Country | Indices | Period |
---|---|---|---|
10:00 | Ifo Business Climate Index | Sep | |
10:00 | Ifo Current Assessment | Sep | |
10:00 | IFO - Expectations | Sep | |
12:00 | CBI retail sales volume balance | Sep | |
15:00 | NBB Business Climate | Sep | |
00:00 | FOMC Member Neel Kashkari Speaks | ||
01:50 | Corporate Service Price Index | Aug | |
07:00 | BOJ Core CPI | Aug | |
11:30 | 10-y Bond Auction | Sep |