Examlex
How does prospective memory change with advancing age?
Borrower Dies
The situation where an individual who has taken out a loan passes away, potentially affecting the repayment obligations and terms of the loan.
Recorded Mortgage
A mortgage that has been formally documented with a governmental office or registry, thereby providing public notice of the lien on the property.
Financing Commitment
An assurance provided by a lender indicating the terms under which they agree to lend money to a borrower.
First Mortgage
A primary lien on a property that has precedence over all other claims or liens in the event of default or sale.
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