Terms Used In Kansas Statutes 58-2337

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• home loan: means a real estate loan when the security is home property;

  (f) "home property" means real estate on which there is located, or will be located pursuant to a home loan, a home or a combination home;

  (g) "real estate loan" means a loan on the security of real estate evidenced by any form of instrument whereby a lien is created upon such real estate for the benefit of another person as security for the payment of an obligation to such person or whereby title to real estate is conveyed to another person as trustee for a third person, as security for the payment of an obligation to such third person;

  (h) "person" means an individual, corporation, business trust, partnership or association or any other legal entity;

  (i) "escrow account" means escrow, agency or similar account for the payment of taxes or insurance premiums with respect to a home loan. See Kansas Statutes 58-2337

• Lender: means all state and national banks, trust companies, state and federally chartered savings and loan associations, federally chartered savings banks or state and federally chartered credit unions or any person making a home loan;

  (b) "selling lender" means a lender who sells, assigns or transfers the servicing of a loan to a purchasing lender or a servicing agent;

  (c) "purchasing lender" means a lender or servicing agent who buys the servicing of a loan from a selling lender;

  (d) "home" means a dwelling or dwellings for not more than four families. See Kansas Statutes 58-2337

• Lien: A claim against real or personal property in satisfaction of a debt.
• Minor: means any person defined by Kan. See Kansas Statutes 77-201
• 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.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Property: includes personal and real property. See Kansas Statutes 77-201
• Residence: means the place which is adopted by a person as the person's place of habitation and to which, whenever the person is absent, the person has the intention of returning. See Kansas Statutes 77-201
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
• Trustee: A person or institution holding and administering property in trust.