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Simple English definitions for legal terms

non-purchase-money

Read a random definition: assecurare

A quick definition of non-purchase-money:

Non-purchase-money refers to a type of loan that is not secured by property obtained through the loan. This means that the loan is not used to purchase the property that is being used as collateral. For example, a non-purchase-money mortgage is a loan that is secured by a property that was not purchased with the loan funds.

A more thorough explanation:

Definition: Non-purchase-money is an adjective used to describe an obligation that is not secured by property obtained through a loan. It is the opposite of a purchase-money mortgage.

Example: A homeowner takes out a home equity loan to pay for a vacation. This loan is considered a non-purchase-money obligation because it is not secured by the property obtained through the loan.

Explanation: The example illustrates the definition of non-purchase-money by showing that the loan is not used to purchase the property that secures the loan. In this case, the loan is used for a vacation, not for buying a home. Therefore, it is not a purchase-money mortgage.

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shaquilleoatmeal
16:14
whats wrong w boston ;(
GOT PROMOTED YAY how do i tell law schools abt this?
like do i type up and separate doc and send as an attachment? how much do i write?
shaquilleoatmeal
16:15
@jackfrost11770: LFGGGG
TYYYYYY
shaquilleoatmeal
16:16
do any of your schools have updated sections in the portal? If so, i'd upload there, if not email. Small paragraph should do it id think
1a2b3c4d26z
16:16
Who wanna play some operation metro later on
1a2b3c4d26z
16:16
Congrats jack!
thank you!!
babycat
16:16
@jackfrost11770: personally I would submit an updated resume reflecting the new position instead of a paragraph but idk what SOP is
getting a bacon egg and cheese in celebration
1a2b3c4d26z
16:18
lfg baby you earned that
babycat
16:20
also congrats!! big win
initiallaw
16:23
congrats!!
:D
the big W is that i get reimbursed for travel now thank GOD
jack moving up in the world :)
i have a brother named jack, so whenever i see your name im marginally happier than normal
babycat
16:37
I'm guessing you don't have a sibling named babycat but I hope I still make you marginally happier than normal despite this
JumpySubsequentDolphin
16:38
maybe he has a babycat
babycat
16:38
I think everyone should have a babycat
JumpySubsequentDolphin
16:39
im allergic to baby cats >:(
JumpySubsequentDolphin
16:40
I used to have a babycat, I only got allergies after he died
JumpySubsequentDolphin
16:40
I think he’s haunting me
babycat
16:40
:(
babycat
16:40
that's too bad
babycat
16:40
you still have me though <3
@babycat: you make my day marginally happier with your scathing wit
16:43
New Father John Misty album out today
16:44
People saying it’s his best yet by far
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