Obligatory Advance at Real Estate Glossary

What is it? Any advance which, under the terms of the credit line deed of trust or other agreement, the secured party has legally obligated itself to make in the absence of a default, breach, or other such event. Obligatory advances include, but are not limited to, a

Real Estate Definition Added By: Aaron

Send To Friends!

If you'd like to send the Obligatory Advance definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Obligatory Advance. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Real Estate Terms:

Real Estate Term Rollover Loan is A loan that includes a call date earlier than its normal amortization period; also called a renegotiable rate loan or a bullet loan.

Real Estate Term Back-to-back escrow is Arrangements that an owner makes to oversee the sale of one property and the purchase of another at the same time.

Real Estate Term Granny flat is Slang term for a separate unit in a house or above the garage, which in the past may have been occupied by an elderly relative.

Real Estate Term Adjusted Basis is The original cost basis of a property reduced by certain deductions and increased by certain improvement costs. The original basis determined at the time of acquisition is reduced by the amount of allowable depreciation or depletion allowances taken by th

Real Estate Term Agreed boundary is A compromise boundary to which property owners agree in order to resolve a dispute.