What is non-recourse loan?
Debt for which the lender’s remedy is generally limited to the property collateral, absent a bad-boy carve-out event. Routine underperformance does not create personal liability.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.