If you are going to work on a lawn mower engine, you would probably buy yourself a book on small engine repair.
You might want to think about getting a basic business, real estate, or financial dictionary... here is an excerpt from ASSP's Complimentary Glossary:
Redeem Recovering collateral from a creditor by paying the entire amount you owe. In bankruptcy, property can be redeemed in some situations by paying the collateral's value even if that amount is less than the entire amount owed.
Redemption Period A period of time established by state law during which a property owner has the right to redeem his or her property from a forced, public foreclosure sale.
Redemptive Right Generally refers to a debtor's right to reacquire title to property lost via a judicial foreclosure (germane to mortgage states) within a year or so afterward. It also refers to IRS's right to redeem property that had secured a federal tax lien prior to a non-judicial foreclosure by a senior lien. IRS's right is limited to 120 days after the sheriff's sale or trustee's sale and requires reimbursement to the winning bidder of the trustee's sale.
Deficiency The amount a debtor owes a creditor on a debt after the creditor seizes and sells the collateral. A deficiency arises when the collateral is sold for less than the amount of the debt.
Deficiency Judgment A personal judgment against a debtor for the amount remaining due after a judicial foreclosure of a mortgage or a trust deed.
If you are going to work on a lawn mower engine, you would probably buy yourself a book on small engine repair.
You might want to think about getting a basic business, real estate, or financial dictionary... here is an excerpt from ASSP's Complimentary Glossary:
Redeem Recovering collateral from a creditor by paying the entire amount you owe. In bankruptcy, property can be redeemed in some situations by paying the collateral's value even if that amount is less than the entire amount owed.
Redemption Period A period of time established by state law during which a property owner has the right to redeem his or her property from a forced, public foreclosure sale.
Redemptive Right Generally refers to a debtor's right to reacquire title to property lost via a judicial foreclosure (germane to mortgage states) within a year or so afterward. It also refers to IRS's right to redeem property that had secured a federal tax lien prior to a non-judicial foreclosure by a senior lien. IRS's right is limited to 120 days after the sheriff's sale or trustee's sale and requires reimbursement to the winning bidder of the trustee's sale.
Deficiency The amount a debtor owes a creditor on a debt after the creditor seizes and sells the collateral. A deficiency arises when the collateral is sold for less than the amount of the debt.
Deficiency Judgment A personal judgment against a debtor for the amount remaining due after a judicial foreclosure of a mortgage or a trust deed.
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