| MARGINAL
TAX RATE |
|
The
rate of income tax which, under the sliding scale in use for
individuals in Australia, is payable by a person in respect
of each additional dollar of income earned in a financial year;
this rate ?rather than a person's average rate of tax ? is relevant
when making investment decisions. |
|
| MARKET
VALUE |
|
The
price at a given point of time which a willing but not anxious
buyer is prepared to pay, and which a willing but not anxious
seller is prepared to accept, in an open market transaction,
with both parties being prudent and properly informed in regard
to the matter, and at arm's length to each other, with neither
party being under abnormal pressure to buy or to sell. |
|
| MEDIATION |
|
The
process under which a neutral third person attempts to bring
two disputing parties to a situation where they can reach their
own agreement. |
|
| MORTGAGE |
|
A
formally registered transfer of an interest in land as a security
for the repayment of a loan. The word is also used for the loan
itself. Unless qualified by adjectives such as "second" or "third"
the term implies a first mortgage. |
|
| MORTGAGE
INSURANCE |
|
A
special form of insurance which protects a lender on the security
of property against any loss of capital or interest arising
from defaults by a borrower, either absolutely or above a certain
limit. |
|
| MORTGAGEE
|
|
The
lender under a mortgage.
|
|
| MORTGAGOR |
|
The
borrower under a mortgage. |
|
