Mortgage term usually preceded by the word "Interest" (i.e. "Interest Adjustment Date"). The date soon after the completion of a purchase and mortgage transaction on which the borrower must make a …
Adjustment Interval
Also known as Adjustment Period. The period of time (i.e. week, month, year) between changes in the interest rate charged on a adjustable-rate mortgage. …
Adjustment Period
See Adjustment Interval. The amount of time between interest rate adjustments in an adjustable-rate mortgage. …
Adjustments
In real estate, adjustments refer to the prorated expenses that are divided between the buyer and seller at the time of closing. They ensure that both parties pay their fair share of costs, such as …
Administrator
A person appointed by a Court to deal with the estate of a deceased person who died without leaving a will (who dies "intestate"). Note, an executor is a person who is named in a will to deal with the …
Administrator’s Deed
A legal document that an administrator of an estate uses to transfer property. …