That interest or value remaining in property after payment of all liens or other charges on the property. An owner’s equity in property is normally the monetary interest the owner retains over and above the mortgage indebtedness. If the property is encumbered with a long-term mortgage, the mortgagor’s equity in the property increases with each monthly principal mortage payment.
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- Word-Of-The-Day: Equity
Word-Of-The-Day: Equity
Written by Armeshica Guice on . Posted in Uncategorized
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