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Special condition in a mortgage that may require the balance of the loan to become due immediately, if regular mortgage payments are not made or for breach of other conditions of the mortgage.

A declaration or a vow of one’s act or of a fact to make it legal, especially before a qualified public officer. The term “notary acknowledgment” denotes the notary section of legal documents.

A loan in which the interest rate is adjusted periodically based upon a pre-selected index.

Time period between changes in the interest rate and/or monthly payment, typically one, three or five years depending upon the index of an ARM.

The legal possession, by one person, of land belonging to another in a manner which is adverse to the interest of the owner. In most states, by operation of law, title to the land becomes vested in su [..]

A written statement of the facts to a matter made under oath before a notary public or other judicial officer.

Also known as contract of purchase, purchase agreement, or sales agreement. The terms in which a seller agrees to sell and a buyer agrees to buy signed by both parties.

The trade association of the title insurance industry, which has adopted certain insurance policy forms to standardize coverage on a national basis.