Equity - Law Dictionary Search Results
life act
life act Legal Immigration Family Equity (LIFE) Act and amendments. This act of Congress allows foreign spouses of American citizens, the children of those
no cash out refinance
loan only for the amount remaining on the mortgage. The borrower does not get any cash against the equity of the home. Also called a "rate and term refinance." Source: U.S. Department of Housing and Urban Development
owner
is considered to have rights or obligations of an owner regardless of legal title on the ground of equity [do not have legal title but, upon execution of the contract, they became equitable owners and have power
Keep your definitions linked to case research
party
an older and more rigid basis for determination. The rule states that “the court shall determine whether in equity and good conscience the action should proceed among the parties before it, or should be dismissed, the absent
premises
of the real estate and that precedes the habendum b : the preliminary part of a bill in equity that states the facts, names the wrongs, and identifies the defendants 2 : a tract of land with
private mortgage insurance
borrower is giving the lender a mortgage on property in which the borrower has less than 20 percent equity
recoupment
a keeping back of all or part of a sum sought by a plaintiff in the interest of equity see also equitable recoupment b : a reduction in damages because of a demand by the defendant arising
redemption
redemption : the act, process, or fact of redeeming see also equity of redemption, right of redemption re·demp·tive [-demp-tiv] adj
reverse mortgage (hecm)
reverse mortgage (hecm) the reverse mortgage is used by senior homeowners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they
liable
bind, from Latin ligare] 1 : answerable according to law : bound or obligated according to law or equity [one is as an accomplice to the crime of another "W. R. LaFave and A. W. Scott, Jr."]
Try the research workspace - 7 days free