PURCHASE MONEY MORTGAGE Definition

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PURCHASE MONEY MORTGAGE (PMM) is seller financing as a part of the purchase price.

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DEMUTUALIZATION refers to the de-mutualizing of an insurance company. The proceeds from such an event are normally distributed to the policyholders in the form of cash, shares, or a combination thereof in the surviving entity.

RELEVANT ASSERTION, in accounting, is a financial statement assertion that has a reasonable possibility of containing a misstatement or misstatements that would cause the financial statements to be materially misstated.

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