Takeout Mortgage Loan
A long term mortgage loan that is advanced to a borrower on the completion of construction or in compliance with any other conditions in the loan commitment. The funds are typically used to pay off or take out the construction lender.
Tangible Personal Property
Assets other than real estate that physically exist. Business equipment and vehicles are tangible personal property whereas stock certificates and franchises only represent value and are therefore intangible property.
Tax Deduction
An allowable (by government) expense that can be subtracted from income before calculating income tax. [Read more...]


Lets connect