Satisfaction
In real estate practice, an instrument to be recorded on the
county recorder's books when a mortgage has been paid in full.
It is signed by the mortgagee and recites that the debt has
been satisfied.
Section
32 The Home Ownership and Equity Protection Act (HOEPA)(Section
32 of Regulation Z — Truth in Lending) requires a specific
pre-loan disclosure and a three-day "cooling off"
period prior to closing certain high-cost real estate secured
loans. This three day "cooling off" period is in
addition to the three day Right to Cancel period.
Sheriff's
deed Deed given by court order in connection with
the sale of property to satisfy a judgment.
Simple
interest Interest computed on principal alone, as
opposed to compound interest.
SRP Service
Release Premium.
Subordination
The act of acknowledging that a lien is junior to another
in priority.
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