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Meaning of nonrecourse debt

Source language: EnglishDictionary language: English

nonrecourse

adjective

Definitions

  1. Of or pertaining to a form of financing, typically debt financing, in which the lender's recourse to recovery in the event of default is limited to the collateral asset only.

Sources:https://en.wiktionary.org/wiki/nonrecourse

Related words

secured loancollateralsecurity interestnegative pledgemortgage loanmortgage lawdeed in lieu of foreclosureblanket lien