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Simple English definitions for legal terms

adjustment date

Read a random definition: Federal Farm Credit Banks Funding Corporation

A quick definition of adjustment date:

Adjustment date: The day when something in a contract or agreement changes. For example, in real estate, it's the day when the interest rate on a mortgage changes. This happens because the interest rate is usually fixed for a certain period, and then it's adjusted to match the current market rate. The adjustment date is also when the costs of a real estate transaction are calculated and shared between the buyer and seller. This includes things like property taxes and utilities. Mortgage funds are usually given out on the adjustment date, and interest starts accumulating from that day. Buyers try to schedule their closing date as close to the adjustment date as possible to avoid paying interest before they take possession of the property. The possession date and adjustment date are usually the same day, and the buyer starts paying for things like property taxes and utilities from that day onwards.

A more thorough explanation:

Adjustment date is a term used in finance and real estate to refer to the date on which a financial term of a contract or transaction is set to change. It is the date on which the parties involved in a transaction agree to adjust the terms of the agreement to reflect current market conditions.

One example of an adjustment date is the date on which the interest rate of an adjustable rate mortgage (ARM) changes. An ARM is a type of mortgage where the interest rate is fixed for an initial period before it is reset, according to the parties’ agreement, on a scheduled adjustment date, to reflect current market interest rates. The time between each adjustment or adjustment date is referred to as the adjustment period.

Another example of an adjustment date is the agreed-upon time for the completion of calculations of specific charges due from a buyer and seller in a real estate transaction. The adjustment date serves as the basis by which the buyer and seller’s shared costs, such as property taxes, utilities, and mortgage loan interest charges, are prorated. The prorated costs are included as debits and credits on a statement of adjustments prepared by a lawyer or notary.

The examples illustrate how an adjustment date is used to adjust the terms of an agreement to reflect current market conditions. In the case of an ARM, the interest rate is adjusted on a scheduled adjustment date to reflect current market interest rates. In the case of a real estate transaction, the adjustment date is used to prorate shared costs between the buyer and seller based on the current market conditions.

adjustment | adjustment of status

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ParallelAgreeableOrangutan
19:50
Anyway joke's on them, they're in Evanston not Chicago
20:07
actually northwestern law is in downtown chicago
20:07
it’s actually more chicago than UChi lol
20:25
Northwestern has a goated location, right by navy pier . But Northwestern's main campus is beatiful and in Evanston (goated location but different reasons)
esoterica
21:30
I like northwestern law location a lot but I did a self guided tour there and this 3L I met told me that if I want to do public interest I shouldn't go there bc career services provides no support
MrThickRopes
0:37
I fukcking
MrThickRopes
0:37
really loved this girk
MrThickRopes
0:37
girl
MrThickRopes
0:38
but legislation preventented me from saying so
MrThickRopes
0:38
he is perfect. she would be perfect before m after, or diuring if he was in charge
1:10
is he perfect?
@MrThickRopes: Careful Mr. ThickRopes. I once wrote a love letter to a girl and it was used against me in court. Best not to tell women how you really feel about them. Might get accused of Rape. Oh my God I am so Horny. Haven't fucked in 6 years now. Man oh man!
^^^^^^^^^ Imagine that shit gets presented in court and your boomer judge who doesn't understand A.I. does not surpress it. Good god!
I thought about this more. You know, if you were still in high school. The time it is easiest to start a relationship, I would say yes. Tell her how you feel. Any woman post undergrad though, nah don't risk it. Wait to see how she turns out as a person at 25 at the very minimum. You probably dodged a bullet.
love amirite
alexa play marvin gaye
globalcitizen
9:58
These are the kinda freaks collecting 100% disability , we work hard everyday to subsidize these buffoons
@ParallelAgreeableOrangutan: I am too that’s why I’m a Tulane crashout rn
18:54
yall we didn’t have to report if we were the complaining party in a criminal case right for character and fitness
18:55
omg i’m scared
18:56
like if i sued my ex for whoopin my azz
19:37
Red flag
19:38
suing someone for being a little freaky 🤪 💀
19:39
LMAO CRAZY
19:40
[deleted by esoterica]
19:41
[deleted by esoterica]
13:51
@esoterica: thanks 🙏 it was a bad joke
how can I look up data on are applicants on here?
It depends how they phrased the question. Some questions just ask if you've ever been charged
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