Terms Used In CFR > Title 10 > Chapter II > Subchapter D > Part 431 > Subpart G > Test Procedures

• Contract: A legal written agreement that becomes binding when signed.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}