A shared-appreciation mortgage (SAM) is a mortgage type where the lender is entitled to a percentage of the property’s value appreciation upon its sale or in the future. In other words, if the property’s value increases, the lender will receive a share of the profit. It is crucial to fully comprehend the terms of a SAM before accepting it.
A shared-appreciation mortgage (SAM) is a type of mortgage where the lender is entitled to a percentage of the property’s appreciation in value when it is sold or at a later date. For example, if a borrower takes out a SAM and the property’s value increases by $100,000 upon sale, the lender may receive $10,000 (assuming a 10% shared appreciation agreement). This arrangement allows both the lender and borrower to share in the property’s appreciation, providing benefits for borrowers who may not have sufficient funds for a large down payment or wish to lower their monthly payments. However, it also means that the lender has a vested interest in the property’s value and can profit from any increase in value.
Yes, Sam is legally allowed to work in the country as he holds a valid work visa.
Yes, Sam can be held legally responsible for any damages caused by his actions, depending on the circumstances and applicable laws.
Yes, Sam has the right to refuse a search by law enforcement unless they have a valid search warrant or probable cause to conduct the search.
In most cases, Sam can be fired from his job without any valid reason, as long as it does not violate any employment contracts, discrimination laws, or labor regulations.
Yes, Sam can be sued for defamation if his negative comments about someone are false, damaging to their reputation, and communicated to a third party.
Yes, Sam can be held liable for a slip and fall accident on his property if it can be proven that he was negligent in maintaining a safe environment or failed to warn visitors of any known hazards.
Yes, Sam can be arrested for driving under the influence of alcohol or drugs if he exceeds the legal limit or is impaired to the extent that it affects his ability to operate a vehicle safely.
Yes, Sam can be sued for breach of contract if he fails to fulfill his obligations as outlined in a legally binding agreement, resulting in damages to the other party.
Sam can be held responsible for his child’s actions to some extent, depending on the age and circumstances. Parents can be held liable for their child’s actions if they were negligent in supervising or controlling their child.
No, Sam cannot be evicted from his rental property without proper notice as it would violate his rights as a tenant. The specific notice period may vary depending on local laws and the terms of the lease agreement.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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