non-recourse
[/nɑːn rɪˈkɔːrs/]
adjective
sem direito de regresso
1. A legal or financial arrangement where a creditor or lender cannot pursue the borrower's other assets if the primary collateral is insufficient to cover the debt
The bank offered a non-recourse loan, meaning they could only claim the house if the borrower defaulted.
O banco ofereceu um empréstimo sem direito de regresso, o que significa que podia apenas reivindicar a casa se o mutuário não pagasse.
2. A transaction or agreement where one party has limited legal remedies against another party beyond specific assets pledged as collateral
In a non-recourse mortgage, the lender's only remedy is foreclosure on the property.
Em uma hipoteca sem direito de regresso, o único remédio do credor é a execução da propriedade.
This is primarily financial and legal terminology used in both the United States and Brazil. In Brazilian finance, non-recourse loans are less common than in the US, particularly in real estate transactions. The concept is important in commercial law and banking sectors in both countries, with clear regulatory distinctions between recourse and non-recourse debt arrangements.
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