Examlex
What is the purpose of a token economy?
Open Mortgage
A type of mortgage that can be paid off, in full or in part, at any time without penalty, offering flexibility in repayment.
Final Order of Foreclosure
A legal decision by a court to permanently transfer ownership of property from the borrower to the lender due to default on the mortgage.
Power of Sale
A legal clause found in mortgages or deeds of trust that gives the lender the right to sell the property without court supervision if the borrower defaults.
Unregistered Mortgage
is a mortgage loan that has not been formally recorded with the appropriate government registry, potentially affecting its legal enforceability.
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