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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
M
|
Majority |
The age at which an
individual is legally entitled to handle his or her own
affairs |
|
Margin |
The amount added to
the index on an adjustable-rate mortgage (ARM) that
establishes the adjusted interest rate at a given
time |
|
Market value, or
Fair market value |
The most likely
price that a piece of property or home can realistically be
sold for, and is dependent on the selling price of similar
real estate in the area |
|
Marketable
title |
A clear,
unencumbered title, reasonably acceptable without the threat
of the risk of litigation |
|
Maturity |
The date on which
the principal balance of a loan, bond, or other financial
commitment is due and payable |
|
Mechanic's
lien |
A lien created by
statute to allow unpaid contractors, laborers or suppliers who
have performed work on or furnished materials for the
construction of a building to recover the value of their
work |
|
Metes and
Bounds |
Means for describing
property by a set of directions and distances, when there
isn't identification based on a surveyed lot
number |
|
Minor |
An individual below
the age at which he or she is legally entitled to handle his
or her own affairs |
|
Monument of
Survey |
le indications made
on natural or man-made objects that indicate the boundaries of
a survey |
|
Mortgage |
A legal document
that pledges a property to the lender as security for the
payment of a loan or debt |
|
Mortgage
broker |
An individual or
company that acts as an agent between borrowers and lenders
for the purpose of arranging and negotiating mortgage
contracts; who is paid a fee for such service |
|
Mortgage
insurance |
A contract that
guarantees the lender against loss caused by a mortgagor's
default on a government or conventional mortgage; such
insurance can be issued by a private company or by a
government agency, and covers either only a percentage, or the
total, of the mortgage loan |
|
Mortgagee |
The lender in a
mortgage transaction |
|
Mortgagor |
The borrower in a
mortgage transaction |
|
Multiple-listing
service (MLS) |
An organization of
brokers who share their listing agreements with one another in
order to find buyers for their properties more effectively
than they could individually |
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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