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Nonrecourse loan |
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Nonrecourse LoanA loan not allowing for a deficiency judgment. The lender's only recourse in the event of default is the security (property) and the borrower is not personally liable.Nonrecourse loanA loan taken by limited partners used to finance their portion of the partnership, which is secured by their ownership in the venture.Nonrecourse loan Similar MatchesNonrecourseNonrecourseIn the case of default, the lender has ability to claim assets over and above what the limited partners contributed. |
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