Secured Debt Any Formula In Contra Costa
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Secured vs. Unsecured Debt: Secured debt is backed by specific assets (collateral), whereas unsecured debt is not. Secured debt holders can seize the assets if the borrower defaults, while unsecured debt holders have no direct claim on the borrower's assets.
We distinguish between collateral and secured debt. Secured debt is explicitly collateralized, placing a lien on specific assets, which facilitates enforcement. Un- secured debt is a claim on unencumbered assets and thus implicitly collateralized. Tangible assets serve as collateral restricting both types of debt.
Secured debt is explicitly collateralized, placing a lien on specific assets, which facilitates enforcement. Unsecured debt is backed by unencumbered assets and thus implicitly collateralized. The explicit col- lateralization of secured debt entails costs but enables higher leverage.
Secured debt - A debt that is backed by real or personal property is a “secured” debt. A creditor whose debt is “secured” has a legal right to take the property as full or partial satisfaction of the debt. For example, most homes are burdened by a “secured debt”.
All Probate, Guardianship and Conservatorship documents are filed and heard in the Wakefield Taylor Courthouse in Martinez.
Declaration of Homestead – A document recorded by either a homeowner or head of household on his primary residence to protect his home from forced sale in satisfaction of certain types of creditors' claims. Decree of Distribution – Evidences the distribution of real property from the estate of a deceased person.
A homestead declaration protects your home's equity from both to forced and voluntary sales of the property. Exempt proceeds from a voluntary sale are protected if another home is purchased within 6 months.
You must occupy the dwelling as your principal residence as of January 1 of each year to qualify for the Homeowners' Exemption for that year.
If you own and occupy your home as your principal place of residence on January 1, you may apply for an exemption of $7,000 off your assessed value for an annual savings of approximately $70 on your property taxes. New property owners will automatically receive an exemption application.
