FinancialInstrumentsKeyTerms.txt

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Author:
EvanWong
ID:
93911
Filename:
FinancialInstrumentsKeyTerms.txt
Updated:
2011-07-13 15:00:03
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Financial Instruments RELC
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Description:
Financial Instruments Key Terms p.97
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  1. To pledge property as security for a loan without giving up possession is to?
    Hypothecate
  2. Property that is pledged as security for a debt is called?
    Collateral
  3. Value over and above whatever is not debt is called?
    Equity
  4. Unconditional promise made in writing to repay debt is called a?
    Promissory Note
  5. A written instrument to secure repayment of a debt for real property is a?
    Mortgage
  6. In a mortgage the buyer or borrower is called the?
    MortgagOR
  7. In a mortgage the lender is called the?
    MortgagEE
  8. When a mortgage is sold or assigned to another lender is?
    Assignment
  9. A legal document in which the title to the property is transferred by a borrower to a third party as security for the beneficiary or lender is?
    Trust Deed
  10. In a deed of trust the borrower is called the?
    TrustOR
  11. In a deed of trust the impartial third party is called the?
    TrustEE
  12. In a deed of trust the lender is called the?
    Beneficiary
  13. Permits the trustee to sell the property if the borrower defaults, without a court of law is called?
    Power Of Sale
  14. When the lien holder causes the property to be sold so that the unpaid lien can be satisfied from the proceeds it is called a?
    Foreclosure
  15. The loss of a right or something else of value as a result of failure to perform on a contract is called?
    Forfeiture

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