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

BACK TITLE LETTER OR CERTIFICATE:
See Starter.

BANKRUPTCY:
A special proceeding under federal, or in some instances state, laws by which the property of a debtor is protected by the court and may be divided among the debtor's creditors and the debtor.

BENEFICIARY:
See Deed of Trust.

BLANKET MORTGAGE OR TRUST DEED:
A mortgage or trust deed that covers more than one lot or parcel of real property, and often an entire subdivision. As individual lots are sold, a partial reconveyance from the blanket mortgage is ordinarily obtained.

BONA FIDE PURCHASER:
One who buys property in good faith, for fair value, and without notice of any adverse claim or right of third parties.

BRANCH:
A subordinate or division office of ABC Company, as opposed to an affiliate, agent, subsidiary or underwritten firm associated with the Company.

BREACH OF CONTRACT:
Failure to perform a contract, in whole or part, without legal excuse.

BUILDING CONTRACT:
An agreement between an owner or lessee and a building contractor, setting forth terms relative to the construction of a proposed structure.

BUYDOWN:
A payment to the lender from the seller, buyer, third party, or some combination of these, causing the lender to reduce the interest rate during the early years of a loan. The buydown is usually for the first one to five years of the loan.
(See also: Certificate Backed Mortgage).

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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