Conditions in a mortgage where the interest rate change periodically in relation to fluctuations in an index. ARMs are indexes can never be mutually exclusive.
The term used when someone takes over ownership of a current mortgage.
When none of the conditions are changed, and no additional down payments are made, and simply the ownership (name) on the mortgage is changed (can be a company or individual). A mortgage application will be required prior to doing this.
When your mortgage ownership is given to another company or individual. Also referred to as a ‘mortgage assignment’.
Any property (real property or company equipment/assets etc.) acquired for the enjoyment or maintenance of a common property. These assets would not be able to be given to owners unless the corporation is terminated.
Items/funds that are owned by an individual that can be turned into or that already are considered ‘liquid assets/funds’ (i.e. can be turned into cash quickly or access quickly). Examples may be savings, stocks, bonds, cars, equipment.