Caribbean Investment Property Glossary

Glossary

These are some of the most common property investment terms used, which property investors may not come across in everyday life.

Some of these terms can have more than one meaning, so we have applied the definition which applies most closely to the context it will be applied for, relating to property investment. If you believe there are any other property investment terms which are not included below but would benefit property investors, please contact us with further details of the term and relevant definition for our consideration.

Repossessed Property

An investment property or properties which have been legally taken back, usually by the mortgage lender, if the property investor has been unable to repay monthly mortgage payments. The mortgage lender will then act to sell the investment property or properties to attempt to recover the original mortgage sum lent to the property investor, along with any associated costs they may incur through this repossession process. Property investors who have an investment property or properties repossessed will not profit as much from the property sale or sales as if the property was sold on the open property market and dependent on mortgage sum borrowed and sales price achieved. A property may not necessarily be repossessed by the mortgage lender. Any lender who lends funds against an investment property or properties, like a secured loan for example, could repossess the investment property or properties if loan repayments are not paid on time. Repossession is normally the last action that a mortgage or secured lender will take and is not necessarily the first course of action if a property investor was to miss just one mortgage payment.