answersLogoWhite

0


Best Answer

A note is the legal document that obligates a borrower to repay a mortgage on real estate at a specified interest rate in a specified amount of time.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a legal agreement by which a sum of money is loaned for the purpose of buying a building?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

If the car insurance is cancelled on the loaned vehicle can the bank repo the car when all payments have been on time?

Wayne, Personally as a Repoman, I see 4-5 orders a month to pick up a vehicle that the bank has no proof of insurance on. I believe there is something in a car buying agreement that requires you to carry the insurance.


When a Chinese loaned panda has cubs in the United States who does the cub belong to?

That would depend on the agreement reached by the two countries prior to the breeding loan.


How many syllables in the word loaned?

The word loaned is one syllable.


Who was involved in credit mobilier and what was the purpose?

The union pacific railroad was involved and the plan was to pay a huge sum for work and secure the bonds loaned by the US government.


The purpose of a debit card is to?

It saves people the trouble of writing checks. You are not being loaned money, you are simply drawing upon an account in which you have previously deposited money.


What is the primary purpose of a loans credit?

The meaning for loans credit may be the amount that is loaned. A primary purpose for a loan is perhaps to improve the home, replacing old appliances, and to generally add value. Another purpose may be to purchase a new car, or even for a holiday.


You paid 13000.00 to stop foreclosure on brothers home what are your rights?

My "rights" are whatever the agreement was between my brother and I when I paid the money. If there is no written agreement, depending on your state law, you may not have any right. You may claim it was a loan. He may claim it was a gift. If it was a loan, the amount may exceed what can be loaned without a written agreement and you are out of luck. You should have asked this question of a local lawyer before the money was paid out.


How can you legally retrieve a loaned car?

When u buy a loaned car, it means u are keeping that car as a security. So when u have completed all the Repayments, u can retrieve the loaned car.


How you can sell mortgages?

You cannot sell mortgages. Mortgages are owned by the bank that loaned the money.You cannot sell mortgages. Mortgages are owned by the bank that loaned the money.You cannot sell mortgages. Mortgages are owned by the bank that loaned the money.You cannot sell mortgages. Mortgages are owned by the bank that loaned the money.


Is loaned a verb?

Yes.


When you invest in a mutual fund?

your money gets loaned out to businesses and companies.


Can you sell a loaned item on RuneScape?

No.