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Simple English definitions for legal terms

loan value

Read a random definition: inter virum et uxorem

A quick definition of loan value:

Loan value: The maximum amount of money that can be safely borrowed on a property or life insurance policy without putting the lender at risk of losing their investment. It is also the amount of money that an insured person can borrow against the cash value of their life insurance policy.

A more thorough explanation:

Definition: Loan value refers to the maximum amount of money that can be safely lent on property or life insurance without putting the lender at risk of losing their investment due to the borrower's inability to repay the loan. It can also refer to the amount of money an insured person can borrow against the cash value of their life insurance policy.

Example 1: A bank is considering lending money to a borrower who wants to purchase a house. The bank will assess the value of the property and determine the loan value, which is the maximum amount they can lend without risking a loss if the borrower defaults on the loan.

Example 2: An individual has a life insurance policy with a cash value of $50,000. They can borrow up to the loan value of the policy, which may be less than the cash value, without cancelling the policy. The loan value is determined by the insurance company and is based on factors such as the policy's cash value, the insured person's age, and the policy's terms and conditions.

Both examples illustrate how loan value is used to determine the maximum amount of money that can be safely lent or borrowed without putting the lender or borrower at risk. It is an important factor in determining the terms and conditions of a loan or life insurance policy.

loan-to-value ratio | lobby

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13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
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