Unsecured Loan
Definition of "Unsecured loan"
loan that is not secured by a mortgage on a specific property. It is backed only by the borrower's credit rating. Unsecured loan are typically short term. The disadvantages of this kind of loan are that, because it is made for the short term and has no collateral, it carries a higher interest rate than a secured loan and payment in a lump sum is required.
Popular Real Estate Terms
Direct line of descent as from father to son. An example of a lineal hereditament would be passing of the title of real property by virtue of a will to the first-born son. ...
Process of developing an area by planning and building homes, shopping centers, schools or churches. The development process includes the construction of streets, sewers, utilities, parks, ...
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Compensation representing the fair market value of a property taken in an eminent domain action. Foe example, Brian received $150,000 for his home which was condemned in an eminent domain ...
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Home prominent in Williamsburg and typical of those in Georgia in the 1700s. The homes usually were 2 to 3 stories, in rectangular form, with double hung windows, two high chimneys, and ...
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Pipes transporting water. ...
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