special mortgage
Civil law. A mortgage burdening only particular, specified property of the mortgagor. La. Civ. Code art. 3285.
Search Results for: special mortgage
strict foreclosure
A rare procedure that gives the mortgagee title to the mortgaged property — without first conducting a sale — after a defaulting mortgagor fails to pay the mortgage debt within a court-specified period. • The use of strict foreclosure is limited to special situations except in those few states that permit this remedy generally. [Cases:
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conveyancer
conveyancer (k[schwa]n-vay-[schwa]n-s[schwa]r). A lawyer who specializes in real-estate transac-tions. • In England, a conveyancer is a solicitor or licensed conveyancer who examines title to real estate, prepares deeds and mortgages, and performs other functions relating to the transfer of real property.
real estate investment trust
A company that invests in and manages a portfolio of real estate, with the majority of the trust’s income distributed to its shareholders. • Such a trust may qualify for special income-tax treatment if it distributes 95% of its income to its shareholders. — Abbr. REIT. See investment company under COMPANY. Cf. REAL-ESTATE MORTGAGE TRUST.
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real estate investment trust
real-estate investment trust. A company that invests in and manages a portfolio of real estate, with the majority of the trust’s income distributed to its shareholders. • Such a trust may qualify for special income-tax treatment if it distributes 95% of its income to its shareholders. — Abbr. REIT. See investment company under COMPANY. Cf.
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