Crown Loan Law and Legal Definition
Crown loan is named after Harry Crown, a Chicago industrialist, who first used this type of loan so the borrower could invest the loaned funds and pay less taxes on the income because they were in a lower tax bracket. Crown loan does not have set maturity date. These loans are typically made by a wealthy parent or grandparent to a lower income child or grandchild.
Legal Definition list
Related Legal Terms
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
- Adjustable Rate Mortgage Loan
- Administrative Cost of Issuing a Loan Guarantee
- Air Loan
- Allowance for Loan and Lease Losses
- Amortized Loan
- Automatic Premium Loan Option
- Average Agricultural Loan Customer
