A formal document that represents an agreement on terms of a sale, where a property will be transferred from a seller to a buyer.
Signed by the mortgagee, this document shows that the debt owned on a mortgage has been paid in full and releases the mortgagee from further payments.
The buying and selling of existing mortgages as part of a
Carrying rights that are subordinate to the main mortgage, this secondary mortgage is a mortgage that has been pledged as collateral for an earlier mortgage.
Section of Land
A parcel of land measuring 640 square miles.
A loan that is backed by collateral, most commonly an automobile or a property.
The property that is used as collateral on a secured loan.
Often used with an assumable mortgage, this is an agreement where the owner of a property offers financing on the purchase or lease of the property.
Acquired before a marriage or other legally binding relationship, this property is owned privately by the husband or wife.
This party manages the collection of an individual
The process of collecting mortgage payments from borrowers as well as other related responsibilities of a servicer.
Set back lines
These lines represent the required distance between the location of nearby structures and the boundaries of a property.
The deed provided at a sheriff
The interest that is computed only on the principal amount, which is not compounded.
Special Flood Hazard Zone
The land area covered by the floodwaters of the base flood is the Special Flood Hazard Area (SFHA). This information is required by law to be made known to each party during a business transaction.
The legal procedure of requiring the performance of a contract according to it
Statute of Frauds
In Texas, contracts must be in writing to be legally binding. Verbal contracts do not constitute a legally binding contract.
Involuntary liens, including tax, judgement and mechanics liens.
Straight Line Deprecation
A sum that is set aside annually from income that goes towards paying for improvements without affected interest loans.
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