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Glossary Of Real Estate Terms
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Glossary N

Native Land:

Reserved lands held by the Crown for the use and benefit of native people.

The rights and freedoms of Canada's First Nations people have been governed by the Indian Act since its enactment in 1876 by the Parliament of Canada. The provisions of Section 91(24) of the Constitution Act, 1867, provided Canada's federal government exclusive authority to legislate in relation to "Indians and Lands Reserved for Indians".

Indian reserves are the areas set aside for First Nations people after contact with the Canadian state ("the Crown"), and are not to be confused with land claims areas, which involves all of that First Nations' traditional lands: a much larger territory than any reserve.

Negative Amortization:
In finance, negative amortization (also known as NegAm, deferred interest or graduated payment mortgage) occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the loan increases. As an amortization method the shorted amount (difference between interest and repayment) is then added to the total amount owed to the lender. Such a practice would have to be agreed upon before shorting the payment so as to avoid default on payment. This method is generally used in an introductory period before loan payments exceed interest and the loan becomes self-amortizing. The term is most often used for mortgage loans; corporate loans with negative amortization are called PIK loans.

Negative Cash Flow:
An income property with operating expenses and debt service exceeding gross operating income.

Net Income: 
Income remaining following the deduction of expenses from revenue.

Net Worth:
The difference between what you own (assets) and what you owe (liabilities).


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