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LSDefine

Simple English definitions for legal terms

loan value

Read a random definition: Dutch lottery

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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General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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