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The cognates in the table below share meanings in English and Spanish, but have different pronunciation. Some words entered Middle English and Early Modern Spanish indirectly and at different times. For example, a Latinate word might enter English by way of Old French, but enter Spanish directly from Latin. Such differences can introduce ...
Key takeaways. Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. The mortgagee clause is a provision that protects the lender from financial ...
When you take out a mortgage, you might encounter unfamiliar words and terms, including “mortgagor” and “mortgagee.” Here’s what those mean and how they apply to you as the borrower.
The level of the floor will depend on the bank providing the mortgage and when the mortgage was taken out, but it is typical to see floors of 3- 4%. This clause has been deemed by both the Spanish and European courts to be illegal, unfair and constituting ‘abusive’ practice. It is estimated that there are more than 3.5 million mortgages ...
If the mortgagee approves the application, the mortgagor is given a set of terms they must agree to proceed with finalizing the loan. The terms include the interest rate and duration of the loan ...
A habendum clause is a clause in a deed or lease that defines the type of interest and rights to be enjoyed by the grantee or lessee.. In a deed, a habendum clause usually begins with the words "to have and to hold".
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.
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