Non Recourse Loan Agreement

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Posted on September 19, 2018 at 03:33 AM



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Nonrecourse debt - Wikipedia
Nonrecourse debt or a nonrecourse loan (sometimes hyphenated as non-recourse) is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable.
The Difference Between Recourse and Non-Recourse Loans ...
The difference between recourse and non-recourse loans comes into play if the borrower defaults, the collateral is sold, and money is still owed on the debt.
What is recourse loan? definition and meaning ...
Loan agreement under which a borrower gives an undertaking to repay a debt even if the funded asset (acquired with the loan proceeds) cannot be liquidated to cover the loan amount.In case of a default, the lender can seize and sell the funded asset as well as the borrower's un-pledged assets or properties. See also non recourse loan.

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