"Mortgage insurance" is just term life insurance, and the salesman
will usually try to include everything possible in order to write a bigger policy.
You would be better served to restrict this to the new asset, and best served to get your own term life policy and assign it to the lender.
Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.
Virtually always. Any reputable company holding a mortgage on your house will require you to have homeowner's insurance, at least to the value of the mortgage. The only exception is for a mortgagee with sufficient assets to self-insure.
Yes. The mortgage must be paid or the lender will take possession by foreclosure unless the decedent had assets that will pay off the mortgage or some form of mortgage insurance.
They are similar to short-term interest-bearing notes payable except that the term of the notes exceeds one year. a long term note is often secured by a mortgage that pledges title to specific assets as security for a loan.
The asset account will be Equipment. You will debit this account to increase its value. The credit side of this transaction will be Accounts Payable. This transaction will increase the value of Accounts Payable, as well.
Payment of account payable will reduce the total assets. When you pay your bills, you take money out of your account.
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
current assets
Accounts Payable means Creditors. When we purchase or take any services then we book the following entry. Purchase A/C (Any good or any Assests)............Dr Party Account...................Cr The first entry hits in Trading account or Assets account The second entry hits in Balance sheet under the head Accounts Payable.
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
Mortgage is a contract between the lender and the borrower that allows an individual to borrow money from a lender for the purchase of housing. Hypothecation is a charge that is created for assets that are moveable such as vehicles, stocks, debtors.
Yes.