[Asterias-announce] NUMBER ONE Success System

[Tommy Lee]

http://www.noss123.com/


 *Real estate* or immovable property is a legal term (in some jurisdictions)
that encompasses land along with anything permanently affixed to the land,
such as buildings. Real estate (immovable property) is often considered
synonymous with *real property* (also sometimes called *realty*), in
contrast with personal property (also sometimes called *chattel* or *
personalty*). However, for technical purposes, some people prefer to
distinguish real estate, referring to the land and fixtures themselves, from
real property, referring to ownership rights over real estate.
Creditor

The creditor has legal rights to the debt or other obligation secured by the
mortgage. That debt is often the obligation to repay the loan by the
creditor (or its predecessor lender) who provided the purchase money to
acquire the property mortgaged. Typically, creditors are banks, insurers or
other financial institutions who make loans available for the purpose of
real estate purchase.

A creditor is sometimes referred to as the *mortgagee* or *lender*.

Debtor

The debtor is the person or entity who owes the obligation secured by the
mortgage, and may be multiple parties. Generally, the debtor must meet the
conditions of the underlying loan or other obligation and the conditions of
the mortgage. Otherwise, the debtor usually runs the risk of foreclosure of
the mortgage by the creditor to recover the debt. Typically the debtors will
be the individual home-owners, landlords or businesses who are purchasing
their property by way of a loan.

A debtor is sometimes referred to as the *mortgagor*, *borrower*, or *
obligor*.

Other participants

Due to the complicated legal exchange, or *conveyance*, of the property, one
or both of the main participants are likely to require legal representation.
The terminology varies with legal jurisdiction; see lawyer, solicitor and
conveyancer.

Because of the complex nature of many markets the *debtor* may approach a
mortgage broker or financial adviser to help them source an appropriate *
creditor* typically by finding the most competitive loan. Recently, many US
consumers (particularly higher income borrowers) are choosing to work with
Certified Mortgage Planners, industry experts that work closely with
Certified Financial Planners to align the home finance position(s) of
homeowners with their larger financial portfolio(s).

The debt is, in civil law jurisdictions, referred to as *hypothecation*,
which may make use of the services of a *hypothecary* to assist in the
hypothecation; that is, in obtaining a legal hypothec.

In addition to borrowers, lenders, government sponsored agencies, private
agencies; there is also a fifth class of participants who are the source of
funds - the Life Insurers, Pension Funds, etc.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://bioinformatics.org/pipermail/asterias-announce/attachments/20070822/06b7a09c/attachment.html