Glossary of terms
This glossary of terms has been composed by FIRST STRATA to provide you with an easily accessible and comprehensive description of the many terms frequently used in all aspects of land sales.
We trust you will find it both useful and informative.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A second or subsequent mortgage, where the mortgagee, on default of the mortgagor, ranks after more senior mortgagees and takes repayment out of the residue after the senior mortgagees have been satisfied.
1. (USA) The certificate of an officer, such as a public notary, before whom a statement in writing was sworn to.
2. That part of an affidavit stating where, when and before whom the affidavit was sworn.
1. A court or tribunal's power to hear and decide an action, dispute or issue.
2. The geographical area within which their judgments or orders may be enforced.
The right of a third party to sue arising out of a contract between two other parties.
