Definition: a lawsuit; the act of carrying on a lawsuit; a case before a court of law Pronunciation: \ˌli-tə-ˈgā-shən\ Used in a Sentence: The seller started litigation against the buyer when they could not agree on the disposition of the earn..
Category : L
Definition: legal rights related to land abutting an ocean, sea or lake, usually extending to the high-water mark Pronunciation: ˈli-tə-rəl; ˌli-tə-ˈral, -ˈräl\ \ˈrīt\ Used in a Sentence: Since the land was located next to a lake the owner had littoral rights to the property extending to the waterR..
Definition: a charge by a lender for taking a mortgage in exchange for a loan Pronunciation: \-ˌri-jə-ˈnā-shən\ Used in a Sentence: The loan origination fee is indicated on the settlement statement provided at th..
Definition: an additional source of income for lenders. Servicing fees are based on the unpaid balance of loans serviced. Pronunciation: Used in a Sentence: Loan payment collection and recordkeeping for mortgages is part of loan servicing that lenders charge ..
Definition: the relationship between the amount borrowed and either the appraised value or sale price (whichever is lower) of a property Pronunciation: Used in a Sentence: The higher the LTV, the lower the lender’s safety cushion should the borrowe..
Definition: a type of legal description of land Pronunciation: Used in a Sentence: The new subdivision used a lot and block map for us to choose a home site for building our ..