GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Distress


Synonyms:bleakness, desolation, stress, upset
Filed Under: financial-banking, mortgages, real-estate
Tags: banking, mortgage, realty
 

Definition of distress

distress
1. The right of a party to sell the real or personal property of another party to pay for arrears in rent or loan payments.

Related Terms and Acronyms:

  • asset case   A bankruptcy proceeding where there are non-exempt assets that might be accessible to pay creditor's claims.
  • creditor   One who is owed money.
  • title defect   A legal claim by others to property, or the right to make demands upon an owner.

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