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Personal Finance Glossary



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Land
"Land" is real property, which consists of the surface of the earth, including the sub surface and... more
 
Land Value
"Land value" refers to the actual value of the land on which a property sits. This does not include... more
 
Landlord
A "landlord" is an owner of real property who rents all or a portion of the property to a tenant.... more
 
Large Cap Stocks
"Large cap stocks" typically refers to stocks of publicly traded companies who have a market... more
 
Last In, First Out
"Last in, first out" or "LIFO" is an accounting method based on the premise that the newest... more
 
Last Trading Day
The term "last trading day" refers to the last day that an options or futures or contract may trade... more
 
Late Charge
A "late charge" is a fee charged by a lender or creditor when a payment owed is made after the due... more
 
Late Fee
A "late fee" is a fee charged by a lender or creditor when a payment owed is made after the due... more
 
Late Payment
A "late payment" is a payment that is made after the date that it was due. Late charges are... more
 
LBO
A "leveraged buy out" or "LBO" is a transaction typically involving a public corporation being... more
 
Lease
A "lease" is a contract providing for the rental of property for a specified term with designated... more
 
Leaseback
A "leaseback" is a business transaction whereby an asset is simultaneously sold and leased back to... more
 
Leasehold Improvement
"Leasehold improvements" are expenses incurred for the permanent improvements to rented facilities.... more
 
Lender
A "lender" is an individual, entity, or financial institution, who provides the funds for a loan.... more
 
Lessee
A "lessee" is a person or entity that leases real or personal property from the owner of that... more
 
Lessor
A "lessor" is an owner of real or personal property who leases that property to a user of the... more
 
Letter of Credit
A "letter of credit" is a form of guarantee of payment by a bank or financial institution. Letters... more
 
Letter of Intent
A "letter of intent" is a document where two or more parties set forth an indication of interest in... more
 
Letter Stock
The term "letter stock" refers to stock that has not been registered with the Securities and... more
 
Leverage
"Leverage" is the process of incurring debt in order to continue or expand the scope of a business.... more
 
Leveraged Buy Out
A "leveraged buy out" or "LBO" is a transaction typically involving a public corporation being... more
 
Leveraged Lease
A "leveraged lease" is a lease where the lessor purchases the asset with part of the consideration... more
 
Liability
"Liability" generally refers to a legal responsibility, obligation, or debt. Examples of... more
 
LIBOR
The "London Interbank Offered Rate" or "LIBOR" is the rate of interest that major international... more
 
License Agreement
A "license agreement" gives a person or entity the right to use someone else's assets. A... more
 
Lien
A "lien" is a security interest in an asset or property, protecting a lender or creditor's loan... more
 
Life Insurance
"Life insurance" refers to a contract policy that pays a monetary sum to the insured person's... more
 
LIFO
"Last in, first out" or "LIFO" is an accounting method based on the premise that the newest... more
 
Like-Kind Property
"Like-kind property" is a term used in the context of tax deferred exchanges of real property under... more
 
Limit Order
A "limit order" refers to an order to buy a stock at or below a designated price, or to sell a... more
 
Limited Liability Company
A "limited liability company" or "LLC" is a form of business organization authorized by state law.... more
 
Limited Partnership
A "limited partnership" is an entity formed under state law that includes one or more general... more
 
Limited Partnership Agreement
A "limited partnership agreement" is a contract among the general and limited partners of a limited... more
 
Limited Warranty
A "limited warranty" is a contractual promise by a manufacturer or seller of goods or services,... more
 
Line of Credit
A "line of credit" is a pre-established loan agreement between a bank or financial institution and... more
 
Liquid Yield Option Note
A "Liquid Yield Option Note" or "LYON" is a zero-coupon bond issued by a corporation, which also... more
 
Liquidate
"Liquidate" refers to the process of selling securities or assets to obtain cash. For example, one... more
 
Liquidation
The term "liquidation" in connection with finance and business often has two meanings: (1)... more
 
Liquidation Rights
"Liquidation rights" refers to the rights of a security holder in the event of a liquidation of a... more
 
Listed Option
A "listed option" is a put or call option that is traded on a national options exchange. Listed... more
 
Listed Security
A "listed security" is a stock or bond that has been authorized for trading on a stock exchange.... more
 
Listed Stock
A "listed stock" is a stock that has been approved and listed for trading on a stock... more
 
Listing Broker
"Listing broker" refers to the real estate broker who is responsible for the listing of a property... more
 
Listing Requirements
"Listing requirements" are the rules of eligibility that a corporation must meet before its stock... more
 
Living Trust
A "living trust" is a trust that an individual establishes while he or she is alive, enabling the... more
 
Living Will
A "living will" is a legal document setting forth the kind of medical care a person wants or... more
 
LLC
A "limited liability company" or "LLC" is a form of business organization authorized by state law.... more
 
Load Fund
A "load fund" is a mutual fund that charges a fee for either purchase or sales of its... more
 
Load Mutual Fund
A "load mutual fund" is a mutual fund that charges a fee for either purchase or sales of its... more
 
Loan
A "loan" is an arrangement where a sum of money is borrowed from one party (the "lender") with a... more
 
Loan Commitment
A "loan commitment" is a written promise by a lender to make a loan under specified terms and... more
 
Loan Officer
A "loan officer" is a representative of a lending institution who is empowered to act on behalf of... more
 
Loan Origination Fee
A "loan origination fee" is a fee charged by a lender for making a loan. Such a fee is often... more
 
Loan Processing Fee
A "loan processing fee" is a fee charged by some lenders in order to process a loan... more
 
Loan Syndication
A "loan syndication" refers to a group of banks or other lenders coming together to make one large... more
 
Loan to Value Ratio
A "loan to value ratio" is the ratio of money borrowed on a property to the property's fair... more
 
Lock-in
A "lock-in" refers to a commitment from a lender guaranteeing g a specified interest rate for a... more
 
Lock-Up Agreement
A "lock-up agreement" is a contractual commitment between the underwriters and insiders of a... more
 
LOI
An "LOI" or "letter of intent" is a document where two or more parties set forth an indication of... more
 
London Interbank Offered Rate
The "London Interbank Offered Rate" or "LIBOR" is the rate of interest that major international... more
 
Long Bond
A "long bond" generally refers to a 30 year U.S.... more
 
Long Position
A "long position" is an investment in a security where the investor owns the security and expects... more
 
Long Term Capital Gain
"Long capital term gain" is the profit on the sale of the capital asset (such as stocks or real... more
 
Long Term Gain
"Long term gain" is the profit on the sale of the capital asset (such as stocks or real estate)... more
 
Low Documentation Loan
A "low documentation loan" is a mortgage that requires only minimal verification of income and... more
 
Lump-Sum Distribution
A "lump sum distribution" is a distribution from a 401(k) retirement plan that includes the entire... more
 
LYON
A "Liquid Yield Option Note" or "LYON" is a zero-coupon bond issued by a corporation, which also... more
 

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