Definition
A loan secured only by the collateral, with no personal liability for the borrower beyond the property.
Example
Agency multifamily debt is typically non-recourse subject to standard carve-outs for fraud and waste.
Related terms
Frequently asked questions
What does Non-Recourse Loan mean in real estate?
A loan secured only by the collateral, with no personal liability for the borrower beyond the property.
How is Non-Recourse Loan used in practice?
Agency multifamily debt is typically non-recourse subject to standard carve-outs for fraud and waste.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.