(a) In this chapter:(a) “Address for giving a notification” means, for the purpose of a particular type of notification, the most recent address provided in a document by the intended recipient of the notification to the person giving the notification, unless the person giving the notification knows of a more accurate address, in which case the term means that address.(b) “Day” means calendar day.(c) “Document” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.(d) “Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.(e) “Entitled person” means a person liable for payment or performance of the obligation secured by the real property described in a security instrument, or the landowner.(f) “Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.(g) “Landowner” means a person that, before foreclosure, has the right of redemption in the real property described in a security instrument. The term does not include a person that holds only a lien on the real property.(h) “Notification” means a document containing information required under this chapter and signed by the person required to provide the information.(i) “Payoff amount” means the sum necessary to satisfy a secured obligation.(j) “Payoff statement” means a document containing the information specified in section 142(d).(k) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government, or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.(l) “Recording data” means the date, book, page, and document number that indicate where a document is recorded in the appropriate governmental office under Office of the Lieutenant Governor Division of the Recorder of Deeds.(m) “Residential real property” means real property located in this Territory which is used primarily for personal, family, or household purposes and is improved by one to four dwelling units.(n) “Secured creditor” means a person that holds or is the beneficiary of a security interest or that is authorized both to receive payments on behalf of a person that holds a security interest and to record a satisfaction of the security instrument upon receiving full performance of the secured obligation. The term does not include a trustee under a security instrument.(o) “Secured obligation” means an obligation the payment or performance of which is secured by a security interest.(p) “Security instrument” means an agreement, however denominated, that creates or provides for an interest in residential real property to secure payment or performance of an obligation, whether or not it also creates or provides for a lien on personal property.(q) “Security interest” means an interest in residential real property created by a security instrument.(r) “Sign” means, with present intent to authenticate or adopt a document:(1) to execute or adopt a tangible symbol; or(2) to attach to or logically associate with the document an electronic sound, symbol, or process.(s) “State” means a state of the United States, the District of Columbia, Puerto Rico, the Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.(t) “Submit for recording” means to deliver, with required fees and taxes, a document sufficient to be recorded under this chapter, to the Office of the Lieutenant Governor, Division of the Recorder of Deeds.
(a) “Address for giving a notification” means, for the purpose of a particular type of notification, the most recent address provided in a document by the intended recipient of the notification to the person giving the notification, unless the person giving the notification knows of a more accurate address, in which case the term means that address.
(b) “Day” means calendar day.
(c) “Document” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
(d) “Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
(e) “Entitled person” means a person liable for payment or performance of the obligation secured by the real property described in a security instrument, or the landowner.
(f) “Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.
(g) “Landowner” means a person that, before foreclosure, has the right of redemption in the real property described in a security instrument. The term does not include a person that holds only a lien on the real property.
(h) “Notification” means a document containing information required under this chapter and signed by the person required to provide the information.
(i) “Payoff amount” means the sum necessary to satisfy a secured obligation.
(j) “Payoff statement” means a document containing the information specified in section 142(d).
(k) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government, or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.
(l) “Recording data” means the date, book, page, and document number that indicate where a document is recorded in the appropriate governmental office under Office of the Lieutenant Governor Division of the Recorder of Deeds.
(m) “Residential real property” means real property located in this Territory which is used primarily for personal, family, or household purposes and is improved by one to four dwelling units.
(n) “Secured creditor” means a person that holds or is the beneficiary of a security interest or that is authorized both to receive payments on behalf of a person that holds a security interest and to record a satisfaction of the security instrument upon receiving full performance of the secured obligation. The term does not include a trustee under a security instrument.
(o) “Secured obligation” means an obligation the payment or performance of which is secured by a security interest.
(p) “Security instrument” means an agreement, however denominated, that creates or provides for an interest in residential real property to secure payment or performance of an obligation, whether or not it also creates or provides for a lien on personal property.
(q) “Security interest” means an interest in residential real property created by a security instrument.
(r) “Sign” means, with present intent to authenticate or adopt a document:(1) to execute or adopt a tangible symbol; or(2) to attach to or logically associate with the document an electronic sound, symbol, or process.
(1) to execute or adopt a tangible symbol; or
(2) to attach to or logically associate with the document an electronic sound, symbol, or process.
(s) “State” means a state of the United States, the District of Columbia, Puerto Rico, the Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.
(t) “Submit for recording” means to deliver, with required fees and taxes, a document sufficient to be recorded under this chapter, to the Office of the Lieutenant Governor, Division of the Recorder of Deeds.