Restrictive conditions are provisions that prevent, prohibit, restrict or restrict the actions of the person or entity named in the contract.
Restrictive agreements are common in real estate transactions and apply to everything from the color you can paint your house to the number of occupants that can live in the building.
In bond obligations, restrictive covenants are aimed at minimizing the risk of default by limiting the amount that issuers pay in the form of dividends to investors.
Restrictive agreements are enforceable, meaning that non-compliance can result in fines and even legal action.
Restrictive agreements were previously used to keep communities racially segregated, which is now an illegal practice.
The Affordable Home Refinancing Program (HARP) was a program offered by the Federal Housing Finance Agency to homeowners who own homes that cost less than their outstanding loan balance.
A lease option is an agreement that gives the lessee the right to choose whether to purchase the leased property during or at the end of the lease period.
2/28 adjustable rate mortgages (ARM) offer an initial fixed rate for two years, after which the interest rate is adjusted semi-annually for another 28 years.
A 5/6 Adjustable Rate Hybrid Mortgage (ARM 5/6 Hybrid) is a fixed rate mortgage for the first five years and then adjusted every six months thereafter.
An 80-10-10 mortgage consists of two mortgages: the first is a fixed-rate loan of 80% of the value of the home; the second - 10% as a loan secured by equity capital; and the remaining 10% as a down payment in cash.
Illegal possession is a legal process whereby a person who is not the owner of a piece of land acquires title and ownership of that land after a certain period of time.
A movable property loan is secured by a movable item or movable property that is used to purchase the loan. The creditor has the right of ownership of the movable property.