The mortgage definition for Contractual liability:
The terms of a contract to which you must abide. There may be financial or even criminal penalties which you incur if if you do not meet your contractual liabilities.
Contractual lienContractual lien
A voluntary obligation such as a mortgage or trust deed.
Click to compare definitions of Contractual liability
Click to view definitions beginning co
www.mortgage-terms.co.uk is a finance, business, investment and stock market resource of common mortgage words. Stamp Duty Calculator - Income Tax Calculator.