Disclosure

Definition

• A statement listing defects to a property, such as the existence of lead paint or ground contamination.
• A statement that requires the creditor to tell the debtor the annual percentage rate, finance charges, and other terms of a loan. Such statements are compulsory in most provinces.

Synonyms
proclamation, unveilment, declaration

Related Terms and Acronyms

• Finance Charge — Definition,
  • Charges that include all of the interest expected to be earned over the life of a loan, in addition to the service charges, mortgage insurance premiums, and other loan-related charges.
• Interest Rate (IR) — Acronym, Very Important,
  • The rate a lender charges an individual to borrow money.
• Legal Fees and Disbursements — Definition,
  • Charges paid on your behalf by a solicitor that are in addition to professional costs.
• Mis-selling — Definition,
  • The act of misleading a client into buying a product or service by deliberately misrepresenting the aforementioned product or service.