Additional Property

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • collateral
  • real estate

Definition of Additional Property

  1. Address of real estate that a person owns that is not being financed.

Related Terms and Acronyms

  • Tandem Loan Bank,
    • When one asset, usually a house, has two loans taken out on it.
  • Junior Mortgage Definition,
    • A loan that is subsequent to the claims of the holder of a prior (senior) mortgage.
  • Second Mortgage Definition, Important,
    • A mortgage which ranks after a first mortgage in priority on a registered land title.
  • Loan Application Bank,
    • A document in which a prospective borrower details his or her financial situation to qualify for a loan.
  • Second Home Definition,
    • An additionally purchased property, often a vacation or a rental property.
  • Subordinate Loan Bank,
    • A mortgage whose priority is below that of another mortgage; i.e., a second or third mortgage or a home-equity loan.
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