Business Terms and Jargon Explained

What is Assumption

This is where a property is purchased with its mortgage. The buyer of the property makes the payments of the original mortgage that the seller had. Unless specified the original borrower will still remain liable.

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Deep pockets Rational Decision Functionality
Hardware Testate Benefits in kind
Right of Support Title Qualification period
PLN Earning asset Deferred sentence
Financial Ombudsman Service Warrant of distress EORI
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Credit Derivatives Ground rent Business Expenses
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Allowable expenses N9 Civil Court form Employees
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Term created / updated 2006-10-31 00:32:09

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