GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Disclosure


Synonyms:declaration, proclamation, unveilment
Filed Under: financial-banking, legal-contracts, mortgages, real-estate
Tags: banking, contract, legal, mortgage, realty
 

Definition of disclosure

disclosure
1. A statement listing defects to a property, such as the existence of lead paint or ground contamination.
2. A statement that requires the creditor to tell the debtor the annual percentage rate, finance charges, and other terms of a loan. Such statements are compulsory in most provinces.

Related Terms and Acronyms:

  • finance charge   Charges that include all of the interest expected to be earned over the life of a loan, in addition to the service charges, mortgage insurance premiums, and other loan-related charges.
  • interest rate (IR)   The rate a lender charges an individual to borrow money.
  • legal fees and disbursements   Charges paid on your behalf by a solicitor that are in addition to professional costs.
  • mis-selling   The act of misleading a client into buying a product or service by deliberately misrepresenting the aforementioned product or service.

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