Owner Financing: A home-financing technique in which buyer borrows from the seller instead of, or in addition to, a bank. Sometimes done when a buyer cannot qualify for a bank loan for the full amount. also called seller financing or purchase-money mortgage.

 
Thursday, September 9, 2010
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1. Promissory Note
(FAQs/Vocabulary)
... makes an unconditional promise in writing to pay a sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. They differ fr...

2. Fee Simple
(FAQs/Vocabulary)
...led fee simple absolute. Other fee simple estates in real property include fee simple defeasible (or fee simple determinable) estates. A defeasible estate is created when a grantor places a condition ...

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