Terms Used In California Codes > Health and Safety Code > Division 31 > Part 4 > Chapter 1 - General Provisions and Definitions

• Amortization: Paying off a loan by regular installments.
• Arrest: Taking physical custody of a person by lawful authority.
• board of directors: means the Board of Directors of the California Housing Finance Agency. See California Health and Safety Code 51603
• 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.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Executive director: means the Executive Director of the California Housing Finance Agency. See California Health and Safety Code 51603
• insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See California Health and Safety Code 51603
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• 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.
• Mortgage guaranty insurance: means either of the following:

  California Health and Safety Code 51603

• Multifamily residential housing: means an improvement on real estate which is a building or buildings containing five or more residential units. See California Health and Safety Code 51603
• 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.
• 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
• Qualified developer: means a housing sponsor which is certified by the agency to be qualified according to experience, financial capability, and any other pertinent criteria as the fund may establish to carry out rehabilitation and new construction with loans insured pursuant to this part. See California Health and Safety Code 51603
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23