 |
Principal
Definition
|
|
| 1) the amount borrowed or remaining unpaid. the part of the monthly payment that reduces the remaining balance of a mortgage. 2) one of the main parties to a transaction. for example, the buyer and seller are principals in the purchase of real property. 3) in a Fiduciary relationship, the person who hires a real estate broker to represent him or her in the sale of property. the phrase, "principals only," often found in real estate ads, is meant to exclude real estate agents from contacting the owners of the property. (also see: Fiduciary)
next word in word list.
| | Avg. Rating : 4.67 |
|
 |
 
 |
Browse 
