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§ 65 — Massachusetts Law | CourtGPT
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  7. § 65
Massachusetts Legal Code

§ 65

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\n''Loan'', a loan or line of credit, whether secured by collateral or security of any nature or unsecured, for consumer or other purposes other than a real estate loan.\n''Real estate'', land or property, including improved land with a dwelling, owner occupied or unoccupied dwellings, unimproved land, farmland, a unit of a condominium, shares of stock issued by a co-operative housing corporation, leasehold interests under a lease which does not expire for at least 5 years beyond the maturity date of the loan, leasehold interests created in air rights over land, and any other interest in land.\n''Mortgage loan'', a loan, line of credit, or borrowing secured primarily by a lien on an interest in real estate, with the exception of a loan described in subsection (c) of section 65A.\n''Non-recourse reverse mortgage loan'', a reverse mortgage loan which limits the lender's recovery solely to the value of the property at the time the loan becomes due and payable.