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Wikipedia definition
1. Nonrecourse debtNon-recourse debt or a non-recourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the collateral, but the lender's recovery is limited to the collateral. Thus, non-recourse debt is typically limited to 50% or 60% loan-to-value ratios, so that the property itself provides "overcollateralization" of the loan.
Read “Nonrecourse debt” on English Wikipedia
Read “ノンリコースローン” on Japanese Wikipedia
Read “Nonrecourse debt” on DBpedia

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