Acquittance

AAA

DEFINITION of 'Acquittance'

A document that shows that a debtor has been released from a debt obligation. An acquittance are often given as an indication from the lender to a debtor that the owed amount has been completely repaid and that the lender cannot request further repayment on that specific debt.

INVESTOPEDIA EXPLAINS 'Acquittance'

Banks and other mortgage lenders often issue some form of an acquittance once a mortgagor makes a final payment toward his or her mortgage. This provides the borrower with an official statement that the loan has been repaid in full.

RELATED TERMS
  1. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  2. Debt

    An amount of money borrowed by one party from another. Many corporations/individuals ...
  3. Loan

    The act of giving money, property or other material goods to ...
  4. Repayment

    The act of paying back money previously borrowed from a lender. ...
  5. Mortgagor

    An individual or company who borrows money to purchase a piece ...
  6. Forbearance

    A temporary postponement of mortgage payments.
Related Articles
  1. The Benefits Of Mortgage Repayment
    Home & Auto

    The Benefits Of Mortgage Repayment

  2. Digging Out Of Personal Debt
    Credit & Loans

    Digging Out Of Personal Debt

  3. Mortgage Basics
    Credit & Loans

    Mortgage Basics

  4. How Our Borrowing Habits Have Changed ...
    Credit & Loans

    How Our Borrowing Habits Have Changed ...

Hot Definitions
  1. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  2. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  3. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
  4. Parity Price

    When the price of an asset is directly linked to another price. Examples of parity price are: 1. Convertibles - the price ...
  5. Earnings Multiplier

    An adjustment made to a company's P/E ratio that takes into account current interest rates. The earnings multiplier is used ...
  6. Macroeconomics

    The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena ...
Trading Center