Quit Claim Deed: A deed relinquishing all, or a portion of, the interest, title, or claim in a property by a grantor.
Reconveyance: The transfer of the title of land personal loan singapore rules one person to the immediate preceding owner. This instrument of transfer is commonly used to transfer the legal title from the trustee to the trustor after a deed of trust has been paid in full. Refinancing: The process of paying off an existing loan and establishing a new loan.
Renovation: The restoration of the primary residence. Generally, this includes repairs, improvements and additions to the permanent structure of the primary residence. Right of Rescission: The right to cancel a contract and restore the parties to the same position they held before the contract was entered into.
For a refinance transaction, a borrower has three working days from the signing of the loan documents to cancel the loan without penalties. The right to rescind does not apply to purchase transactions. Servicing: The collection of payments and management of operational procedures related to a mortgage loan.
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