what does s nonrecourse debt mean

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Non recourse debt means a debt in which borrower is not liable to recourse the whole amount of Debt to the lender. In this type of debt, lender lends money to borrower after collateral, in case borrower defaults, the recovery is limited to the value of property kept as collateral even if value of collateral goes down. Borrower is not liable to personally pay off the debt.

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what does s nonrecourse debt mean

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