Qualified Replacement Mortgage Law and Legal Definition
According to 26 USCS § 860G [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 1. Normal Taxes and Surtaxes; Subchapter M. Regulated Investment Companies and Real Estate Investment Trusts; Part IV. Real Estate Mortgage Investment Conduits], qualified replacement mortgage means “any obligation--
(A) which would be a qualified mortgage if transferred on the startup day in exchange for regular or residual interests in the REMIC, and
(B) which is received for--
(i) another obligation within the 3-month period beginning on the startup day, or
(ii) a defective obligation within the 2-year period beginning on the startup day.”
Legal Definition list
- Qualified Relative
- Qualified Rehabilitation Loan
- Qualified Rehabilitation
- Qualified Redevelopment Bond
- Qualified Real Estate Investment Trusts [Internal Revenue]
- Qualified Replacement Mortgage
- Qualified Resident
- Qualified Retirement Plan
- Qualified Retirement Planning Services
- Qualified Section 501[c] [3] Bond
- Qualified Settlement Fund
Related Legal Terms
- Adjustable Rate Mortgage
- Adjustable Rate Mortgage Caps
- Adjustable Rate Mortgage Loan
- Alternate Payee to Qualified Domestic Relations Order
- Alternative Mortgage Instruments (ATI)
- Alternative Mortgage Transaction [Banks & Banking]
- Amortized Mortgage
- Anaconda Mortgage
- Asset Integrated Mortgage
- Assignment of Mortgage
