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

The Mortgage Group®


GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Sale and Repurchase... — Security
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Seed FundingShort-Term Capital Gain
sale and repurchase agreements (SRAs) — Abbreviation
sale priceDefinition
The price that is paid for an asset.
sale-leasebackDefinition
A transaction in which the seller transfers the title to the buyer, then rents the property from the new owner. Generally not done in Canada, more an American practice.
sales and purchase agreement (SPA) — Acronym
A formal legal document or contract between the buyer and seller stating the terms and conditions upon which a real property will be sold.
sales contractDefinition
A legal written document that details the agreed upon conditions between a seller and a buyer regarding the sale of a specific property. Also called an "Agreement of Sale."
sales taxDefinition
Federal and / or provincial taxes that are applied to purchases.
Saskatchewan Federation of Labour (SFL) — Company, Saskatchewan, Canada
Saskatchewan Government Insurance (SGI) — Company, Saskatchewan, Canada, Important
Saskatchewan Institute of Applied Science and Technology (SIAST) — Company Est.1941, Saskatchewan, Canada
  ➥  Formerly known as the Saskatchewan Technical Institute (STI) until 1968.
Saskatchewan Municipal Hail Insurance (SMHI) — Company Est.1917, Regina, Saskatchewan, Canada
  ➥  A non-profit, municipal organization operated by Saskatchewan farmers.
Saskatoon & Region Home Builders' Association (SRHBA) — Company, Saskatoon, Saskatchewan, Canada
savings accountDefinition
A financial account that pays interest with low risk.
schedule i banksDefinition
A designation in the Bank Act that refers to Canadian-owned banks that are widely held, i.e., ones in which no one owner holds more than 10% of shares.
schedule ii banksDefinition
A designation in the Bank Act that refers to foreign-owned banks and closely held Canadian banks, i.e., banks in which an owner may hold more than 10% of outstanding stock.
schedule iii banksDefinition
Foreign banks not incorporated under the bank act that are allowed to conduct business in Canada.
schematic designsDefinition
Structural plans for a building's mechanical systems, such as its plumbing and electrical functions.
seasonal unemploymentDefinition
The loss of jobs due to changes in the climate and other conditions. Forestry, fishing and construction are affected by climate, while retailing is affected by seasons and holidays. For instance, at Christmas, retail employment is higher than in January.
second homeDefinition
An additionally purchased property, often a vacation or a rental property.
second home mortgageDefinition, Important
A mortgage used purchase property, often a vacation or a rental property.
second mortgageDefinition, Important
A mortgage which ranks after a first mortgage in priority on a registered land title.
second-to-die insuranceDefinition
Life insurance that only pays a death benefit when both spouses have died, commonly used in estate planning.
secondary marketDefinition
A market where financial instruments such as stocks, bonds, options and futures are bought and sold to investors.
secondary mortgage marketDefinition, Important
The trade in home loans that are bundled together and sold as securities to investors. It frees money so more people can get mortgages.
secure socket layer (SSL)Definition
A standard form of encryption used over the Internet for e-commerce and banking transactions.
  ➥  Seen as 'https' in a web address (URL).
secured credit cardDefinition
A credit card that a cardholder secures with a savings deposit to ensure payment of the outstanding balance if the cardholder defaults on payments. It is used by people new to credit, or people trying to rebuild their poor credit ratings.
secured debtDefinition
A debt that is secured by a lien on debtor's property that may be taken by the creditor in case of non-payment by the debtor. A common example is a mortgage loan.
secured line of credit (SLC) — Acronym
secured loanDefinition
Borrowed money that is backed by collateral.
securities/investment dealerDefinition
One who acts as the agent for another party to buy and sell securities and other investments; also an underwriter.
securityDefinition
A tradable financial implement that represents ownership, the rights to ownership or debt.
  Currently Displayed — Page 1
Sale and Repurchase... — Security
  Next Page
Seed FundingShort-Term Capital Gain

Search the Glossary

Index for The Letter 's'

Page 1: Sale and Repurchase...
Security
Page 2: Seed Funding
Short-Term Capital Gain
Page 3: Short-term Capital Loss
Solicitor Information
Page 4: Solvency
Statute of Limitations
Page 5: Statutory Liability
Summary of Coverage
Page 6: Sun Life Assurance Company...
Systematic Investment Plan

Notable Terms

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