Canadian Maple Leaf Licensing Info: Alberta Mortgage #MW-0511205,
FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.
 
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The Mortgage Group®


GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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assessmentsDefinition
Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
assessor's parcel number (APN) — Acronym
assetDefinition
Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
asset caseDefinition
A bankruptcy proceeding where there are non-exempt assets that might be accessible to pay creditor's claims.
asset-backed securities (ABS)Definition, Very Important
Securities backed by a pool of assets.
  ➥  Financial security made up of a bundle of assets.
assigneeDefinition
A person appointed to acquire (take) an item, such as a property.
assignmentDefinition
The transfer of a mortgage from one person to another.
assignorDefinition
assisted living (AL) — Acronym
Associate Committee on the National Building Code (ACNBC) — Company Est.1948, Canada
Association of Canadian Financial Officers (ACFO) — Company Est.1988, Ottawa, Ontario, Canada
assumabilityDefinition
The ability of a mortgage to be taken over from the original borrower by a new borrower.
assumableDefinition
A loan or obligation that can be taken over by a new borrower.
assumable mortgageDefinition, Very Important
A mortgage that can be taken over or "assumed" by the buyer when a home is sold.
assumed interest rate (AIR) — Acronym
  ➥  Assumable mortgage.
assumed investment return (AIR) — Acronym
assumption clauseDefinition
A provision in a mortgage contract that allows a buyer to take responsibility for the loan from the seller.
assumption feeDefinition
A lender's charge for updating records when a buyer takes responsibility for a mortgage from the seller.
Assumption Mutual Life Insurance Company — Company Est.1903, Prince Edward Island, Nova Scotia, New Brunswick, and Quebec, Canada, Important
  ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Atlantic Central (AC) — Company, Nova Scotia, New Brunswick, & Princess Edward Island, Canada
Atlantic Home Warranty Program (AHWP) — Company Est.1976, Halifax, Nova Scotia, Canada
  ➥  Originally established by HUDAC (The Housing and Urban Development Association of Canada).
atm access feeDefinition
Fee charged in addition to the individual account fees for an account holder to gain access to the ATM system. Can be monthly, weekly, or annual fee. See also "Automated Teller Machine."
atm allianceDefinition
An alliance between banks and/or credit unions that is designed to avoid or minimize surcharges for non-bank customers at ATM machines. Customers from one bank that belongs to the alliance can use surcharge-free ATMs at all alliance banks.
atm card feeDefinition
This is not a debit card fee. It can be an annual or monthly fee charged on top of individual account fees to obtain an ATM card. The fee may also be charged per card or per account. For example, if an account is held jointly, the bank may charge for the second person to hold a card or it may charge one fee for all the cards on an account.
atm surchargeDefinition
A fee charged to someone using a bank-owned ATM because he or she does not hold an account with that bank. It is a good idea to review what your bank charges you to use another bank's ATM system to avoid paying additional surcharges to your bank.
attached (att, attd)Definition
Something that is affixed to a property.
  ➥  As in attached garage.
attached structureDefinition
A building that is attached to another building.
attained ageDefinition
The current age of an insured individual.
attending physician statement (APS) — Acronym, Important
auditDefinition
An examination of a taxpayer's income tax return or other transactions bearing tax consequences. Audits range from a simple letter from the agency to a detailed review of individual or business tax filings and records.
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Search the Glossary

Index for The Letter 'a'

Page 1: Abandonment
Accounts Receivable/Accounts...
Page 2: Accredited Mortgage Broker
Additional Principal Payment
Page 3: Additional Property
Aggregate Stop Loss
Page 4: Agreed Boundary
American Growth Fund
Page 5: American National Standards...
Annuity Certain
Page 6: Annuity Consideration
Assessment Rolls
Page 7: Assessments
Audit
Page 8: Auditing and Assurance...
Aviation Easement

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