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NULL & VOID Having no legal force or effect; of no worth; unenforceable; not binding. BUYER'S MARKET Market conditions that favor buyers. With more sellers than buyers in the market, sellers may be forced to make substantial price concessions. MORTGAGE BANKER A corporation or firm which normally provides its own funds for mortgage financing. SETTLEMENT The act of adjusting and prorating the various credits, charges and settlement costs to conclude a real estate transaction. MORTGAGOR The one who gives a mortgage as security for a debt; the borrower; usually the landowner; the borrower or debtor who hypothecates or puts up his property as security for an obligation. DOMICILE The state where an individual has his true, fixed, permanent home and principal business establishment and to which place he has the intention of returning whenever he is absent. SPECIAL WARRANTY DEED A deed in which the grantor warrants or guarantees the title only against defects arising during the period of his tenure and ownership of the property and not against defects existing before the time of his ownership. |
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