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Personal Property
Movable assets owned by an individual or entity, as opposed to real property like land or buildings.
Real Property
Legal term describing land and anything permanently attached to it, such as buildings.
Mortgagee
The lender in a mortgage loan agreement, typically a bank or financial institution.
Deficiency Judgment
A court order that holds a borrower personally liable for the shortfall when the sale of a foreclosed property does not cover the outstanding loan balance.
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