Debt Security - Law Dictionary Search Results
judgment
favor of a creditor for the balance of a debt that is not satisfied in full by the security ;esp : such a judgment following the foreclosure of a mortgage final judgment : a judgment that leaves … decree and any order from which an appeal lies. cog·no·vit judgment [kÄ g-nō-vit-] : an acknowledgment by a debtor of the existence of a debt with agreement that an adverse judgment may be entered without notice or
Debts Recovery Tribunal
Debts Due to Banks and Financial Institutions Act, 1993. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2 (1) (i)] … Debts Recovery Tribunal, means the Tribunal established under sub-s. (1) of s. 3 of the Recovery of Debts Due
Welsh mortgage
creditor and his heirs, until out of the rents and profits of the estate he has satisfied the debt with interests; it was so called because either debt nor estate was lost. The distinction between these securities … debt with interests; it was so called because either debt nor estate was lost. The distinction between these securities is, that in the vifgage the profits are applied in the periodical reduction of the debt, while in
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collateral
3 a : of, relating to, or being collateral used as a security (as for payment of a debt) b : secured by collateral [a loan] col·lat·er·al·ly adj n 1 : a collateral relative 2 : property
Default
(1985) 1 SCC 591: AIR 1985 SC 582: (1985) 2 SCR 643. It means non-payment of any principal debt or interest thereon or any other amount payable by a borrower to any secured creditor consequent upon which … the directions or guidelines issued by the Reserve Bank. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2 (1) (j)]
letter of credit
promises to honor a demand for payment by the beneficiary in order to satisfy or secure the customer's debt compare guaranty NOTE: A letter of credit is usu. requested by a buyer of merchandise (the issuer's customer) … (as a bank) promises to honor a demand for payment by the beneficiary in order to satisfy or secure the customer's debt compare guaranty NOTE: A letter of credit is usu. requested by a buyer of merchandise
attach
(property) and so acquire the right to foreclose on or otherwise deal with property for payment of a debt and to exercise one's rights in the property against third parties see also security interest at interest compare
undersecured claim
undersecured claim A debt secured by property that is worth less than the full amount of the debt. Source: Administrative Office of … undersecured claim A debt secured by property that is worth less than the full amount of the debt. Source: Administrative Office of the
deed
the grantor makes no warranties of title to the grantee deed of trust : an instrument securing a debt in which a debtor conveys the legal ownership of real property to a trustee to be held in … in which the grantor makes no warranties of title to the grantee deed of trust : an instrument securing a debt in which a debtor conveys the legal ownership of real property to a trustee to be
unsecured claim
unsecured claim A claim or debt for which a creditor holds no special assurance of payment, such as a mortgage or lien; a debt … claim or debt for which a creditor holds no special assurance of payment, such as a mortgage or lien; a debt for which credit was extended based solely upon the creditor's assessment of the debtor's future ability
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