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Management Corporation (MC)
Collectively the owners of the parcels in the strata scheme. This is
formed automatically when the strata titles is registered by opening of
a Book of Strata Register. Read More
Management Fund
Levies are paid into this fund to cover day-to-day expenses of the
management corporation, i.e. electricity, gardening, insurance, routine
repairs and maintenance of common property.
Mortgage
An instrument for lending money on real estate. The property is pledged
as security for the loan, and the lender has the right to take over the
property if the borrower defaults on the terms of the loan.
Mortgage Banker
A specialized lending institution that lends money solely with respect
to real estate and secures its loans with mortgages on the real estate.
Mortgage Broker
A mortgage broker acts as an intermediary who brokers mortgage loans
on behalf of individuals or businesses. Traditionally, banks and other
lending institutions have sold their own products. However, as markets
for mortgages have become more competitive, the role of the mortgage
broker has become more popular.
Read More
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