What Is a Participation Mortgage? The term participation mortgage refers to a type of home loan that allows different parties to team up and share in any income or proceeds that result from the rental or sale of a piece of a mortgaged property. Agreements may include partnerships between borrowers, between borrowers and lenders, or
What Is Owner Earnings Run Rate? Owner earnings run rate is an extrapolated estimate of an owner’s earnings (free cash flow) over a defined period of time — typically a year. Key Takeaways Owner earnings run rate is an extrapolated estimate of an owner’s earnings (free cash flow) over a defined period of time—typically a
What Is an Owner-Occupant? An owner-occupant is a resident of a property who holds the title to that property. In contrast, an absentee owner carries the title to the property but does not live there. An absentee landlord is a type of absentee owner. Key Takeaways Owner-occupants are residents who own the property where they live.Some
What Is Owners’ Equivalent Rent (OER)? Owners’ equivalent rent (OER) is the amount of rent that would have to be paid in order to substitute a currently owned house as a rental property. This value is also referred to as rental equivalent. In other words, OER figures the amount of monthly rent that would be
What is an Own-Occupation Policy? An own-occupation insurance policy covers individuals who become disabled and are unable to perform the majority of the occupational duties that they have been trained to perform. This type of insurance policy is contingent on the individual being employed at the time the disability occurs. Own-occupation insurance policies are also known as
What Is a P45 Form? P45 is the reference code of a tax form titled “Details of employee leaving work” that an employer gives to an employee upon termination of employment in the United Kingdom. The P45 is part of the pay-as-you-earn (PAYE) system. Under the PAYE system, income tax and National Insurance Contributions (NIC) are withheld from
What Are the P5+1 Countries? The P5+1 countries are a group of nations working together on the Iran Nuclear Deal. The countries include the five permanent members of the United Nations (U.N.) security council, with the addition of Germany. The U.N. security council consists of China, France, Russia, the United Kingdom, and the United States. The agreement is more formally
What Is Pension Adjustment (PA)? A pension adjustment (PA) is the amount a member of a Canadian Registered Retirement Savings Plan can contribute in a given year. Understanding Pension Adjustment (PA) More specifically, a pension adjustment (PA) is an estimation of the value of an individual’s pension and the value assigned by the Canada Revenue
What Is the Pacific Rim? The Pacific Rim refers to the geographic area surrounding the Pacific Ocean. The Pacific Rim covers the western shores of North America and South America, and the shores of Australia, eastern Asia, and the islands of the Pacific. Much of the world’s shipping goes through the Pacific region, especially between China and
What Is a Package Deal? A package deal is an order or transaction that contains a number of smaller exchange or transaction items that must be completed simultaneously, or not at all. Package deals allow traders to ensure specific prices or times to maturity for multiple assets. A package deal may also refer to the
