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HOME PURCHASER [4 records]

Record 1 2022-04-14

English

Subject field(s)
  • Real Estate
  • Taxation
CONT

An assignment sale in respect of residential housing is a transaction in which a purchaser(an "assignor") under an agreement of purchase and sale with a builder of a new home sells their rights and obligations under the agreement to another person(an "assignee").

French

Domaine(s)
  • Immobilier
  • Fiscalité
CONT

Une cession d'un contrat de vente à l'égard d'un logement résidentiel est une transaction dans laquelle un acheteur (un «cédant») en vertu d'un contrat d'achat et de vente avec un constructeur d'une habitation neuve vend ses droits et obligations en vertu de ce contrat à une autre personne (un «cessionnaire»).

Spanish

Save record 1

Record 2 2012-11-29

English

Subject field(s)
  • PAJLO
  • Property Law (common law)
CONT

This type of direction regarding the payment of funds will direct the purchaser of the old home to pay the funds in favor of the vendor of the new home and, thus, will avoid the necessity of depositing the funds from the sale of the old home into a bank account and subsequently drawing a cheque for the amount of money required to purchase the new home.(Rose, 5th ed., 1981, p. 168).

French

Domaine(s)
  • PAJLO
  • Droit des biens et de la propriété (common law)
OBS

directive de paiement : terme normalisé par le Comité de normalisation dans le cadre du Programme national de l'administration de la justice dans les deux langues officielles (PAJLO).

Spanish

Save record 2

Record 3 2007-10-26

English

Subject field(s)
  • Real Estate
  • Banking
  • Loans
CONT

A piggyback mortgage loan is a second loan that closes at the same time as the first mortgage loan. Typically the first mortgage loan is only 80 percent of the home value.... A piggyback loan is usually for 10 percent of the remaining balance, after that the purchaser has to come up with the rest as a down payment.

CONT

Homeowners who don’t have 20 percent for a down payment and don’t want to pay PMI can opt for a piggyback loan, which is essentially a home equity loan that funds a portion of the down payment.

CONT

The disadvantage of a piggyback loan is that it could take as long as 10 years to pay off your second loan.

OBS

Piggyback mortgages are also called 80-10-10 loans

Key term(s)
  • piggy-back loan
  • piggy back loan
  • piggy-back mortgage loan
  • piggy back mortgage
  • 80-10-10 mortgage loan
  • 80-10-10 mortgage
  • eighty-ten-ten mortgage loan
  • eighty-ten-ten mortgage

French

Domaine(s)
  • Immobilier
  • Banque
  • Prêts et emprunts
CONT

Les prêts gigognes occupent également une part du marché importante aux États-Unis, surtout parce qu'ils sont exempts de primes d'assurance hypothécaire.

OBS

D'après les recherches effectuées, il s'agit de deux prêts hypothécaires qui se composent ainsi : l'un représente 80% de la valeur de la maison, l'autre 10 % auquel s'ajoute un apport de 10%. Ce type de prêt est souvent appelé «prêt 80-10-10» ou «prêt 80-15-5». L'emprunteur, par conséquent évite ainsi de payer l'assurance hypothécaire privée (PMI).

Key term(s)
  • prêt 80-10-10
  • prêt 80-15-5
  • prêt quatre-vingt-dix-dix

Spanish

Save record 3

Record 4 1976-06-19

English

Subject field(s)
  • Real Estate

French

Domaine(s)
  • Immobilier

Spanish

Save record 4

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