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Loans

Marketable title

A marketable title is one that is free from any legal defects and can be easily transferred to another individual. This means that the person holding the title has the legal right and ability to transfer ownership of the property. It is important to have a marketable title when buying or selling property to ensure a smooth and legal transfer. Without a marketable title, there may be complications and disputes over ownership. Therefore, it is crucial to thoroughly research and verify the title before entering into any property transactions.

Obligation of the borrower

As a financial professional, it is vital to understand the concept of borrower obligations in an agreement. These obligations include maintaining a repayment schedule, regul...

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Annual Reducing Method

Let's dive into the concept of diminishing balance method, a technique used to calculate interest on loans. The reduced principal is taken into consideration at the end of ...

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Penal interest

In the realm of finance, it is crucial to understand the concept of penal interest. This term refers to the additional fees incurred when a borrower fails to make timely ins...

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Borrower category

In the realm of finance, it is crucial to determine the status of a borrower - whether they are salaried or self-employed. This distinction holds immense significance as it ...

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