California Codes > Public Resources Code > Division 6 > Part 3 > Chapter 1 > Article 2 – Indemnity Land Selections
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Terms Used In California Codes > Public Resources Code > Division 6 > Part 3 > Chapter 1 > Article 2 - Indemnity Land Selections
- Approved lending institution: means a qualified mortgage lender approved by the agency for participation in a program of loan insurance, including those successors and assigns of any such institution as are permitted by the agency. See California Health and Safety Code 51603
- Contract: A legal written agreement that becomes binding when signed.
- Insured loan: means a loan insured pursuant to Chapter 4 (commencing with Section 51650). See California Health and Safety Code 51603
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
- Persons and families of low or moderate income: means "persons and families of low or moderate income" as defined in Section 50093. See California Health and Safety Code 51603
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Single-family residential housing: means an improvement on real estate which is a building or a condominium unit or buildings containing one to four units. See California Health and Safety Code 51603