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Possession

The mortgage definition for Possession:

When a buyer signs the papers and receives the keys to the house, they officially take possession.

Similar Matches

Adverse possession

Adverse possession
The acquisition of title to property through possession without the owner's consent for a certain period of time.


Repossession

Repossession
Usually occurs after a borrower seriously defaults on payments. The lender then legally evicts the borrower and usually auctions the property to recover losses. 




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