- A property that is financed using mortgage debt.
mortgaged, financed property
Related Terms and Acronyms
- Capital — Definition,
- Money that is used to make money; for example, to buy rental property or a business.
- Collateral — Definition,
- Any property pledged as security for repayment of a debt.
- Leverage — Definition,
- The use of a small amount of cash and a large loan to buy something.
- Lien — Definition,
- A legal hold or claim of a creditor on the property of another.
- Secured Debt — Definition,
- A debt that is secured by a lien on debtor's property that may be taken by the creditor in case of non-payment by the debtor. A common example is a mortgage loan.
- Useful Life — Definition,
- The number of years depreciable business property is expected to be productive and in use.