DEFEASANCE PROCESS
A process to substitute collateral when looking to sell or refinance an existing property which was acquired through a real-estate loan. Plainly speaking, the defeasement process involves the remainder of the amount owing on the loan being used to purchase government securities which are then given to the lender in exchange for releasing the property for refinance or sale by the borrower. While there are variations on the steps taken to ensure proper execution of the defeasement process, it is most often involves multiple steps and multiple parties.
POPULAR TERMS
Property Tax
Local governments assess property tax on real estates. The tax is often based on the property’s value.
Onerous Contract
A contract that produces products or services for a bigger amount that would be anticipated profit. A lease contract is an example of onerous contr ...
Overhead
It is an accounting term that refers to all current business expenses not including o direct labor, direct materials or third-party expenses which ...
Substitute
Product or service replacing and satisfying the need of a consumer. This can be perfect or imperfect, depending on whether the substitute partially ...
Materials Requirement Planning - MRP
A production planning and inventory control system designed to manage manufacturing processes and production. A software based integrated informati ...
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