Adjustable rate mortgage (ARM) is a type of mortgage where the interest rate changes over time. In contrast, fixed rate mortgages made for 15, 20, or 30 years have a set amount of interest on the loan that does not change. ARMs come in many...
finance
adjustment date
Adjustment date is the date on which a financial term of a contract or transaction is set to change. In real estate, it usually refers to the date on which the interest rate of an adjustable rate mortgage (ARM) changes. An ARM’s interest rate...
adjustment period
Adjustment period is the time within which the interest rate on an adjustable-rate mortgage (ARM) can reset. It is the scheduled amount of time between each adjustment date.
Adjustment periods are set at month-to-month, semi...
advance
An advance is a type of loan or payment in which money or goods are given before consideration is received in return; usually with the expectation of repayment or adjustment in basis by the party receiving the advance.
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adverse domination
The doctrine of adverse domination allows the statute of limitations on a claim for breach of fiduciary duty against directors and officers of a corporation to be tolled until the corporation is no longer controlled by the alleged wrongdoers. This...
after-acquired property
Also called “future-acquired property”.
Personal or real property that a borrower acquires after having taken on a debt secured by all of their property, which becomes additional collateral for the debt. Based on UCC § 9-204, such...AGI
AGI is an acronym for adjusted gross income.
Adjusted Gross Income (AGI) is defined as the gross income earned by an individual minus several adjustments made to that income, such as trade and business deductions. Gross...
agricultural lien
As established in UCC §9 102-5, an agricultural lien is a lien placed on farm products like farm equipment or livestock that secures payment or performance in exchange for a loan of land, goods, or money. These loans allow farmers to produce...
amortization
Amortization has different meanings for loan payments and taxes. Amortization for loans refers to separating the payments for the loan principal and interest into periodic payments to where the loan is paid off at a specified time....
angel investor
An angel investor is an individual investor—often a high net worth individual—who provides capital for emerging growth companies, typically in exchange for either ownership equity or convertible debt. Angel investments often represent the...