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Home»Glossary

Glossary 

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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

R

Rate commitment (Mortgages)

The number of days the lender will guarantee the interest rate on a mortgage approval.

Real property (Insurance)

Land and things that are permanently attached to it, such as buildings and real estate.

Real property (Trust and estate)

Land and things that are permanently attached to it, such buildings and real estate.

Red book (Insurance)

The Canadian publication that lists the value of automobiles to establish the market value of used autos.

Registered education savings plan (Investment)

A government registered savings or investment account that allows money for a child’s post secondary education to grow tax-deferred until the funds are withdrawn and may receive grants from the government.

Registered investments (Investment)

Investment programs that are registered with the government as they have tax implications such as an RSP.

Registered retirement income fund (Investment)

An option for the maturity of an RSP that allows for a stream of income during retirement.

Registered retirement savings plan (Business banking)

A government registered account that helps Canadians save for retirement. An RRSP that holds investments, allowing their value to accumulate tax-free until funds are withdrawn at retirement or age 71.

Registered retirement savings plan (Investment)

A government registered account that helps Canadians save for retirement. An RRSP that holds investments, allowing their value to accumulate tax-free until funds are withdrawn at retirement or age 71.

Residue of the estate (Trust and estate)

The remainder of the estate after all debts and administration expenses have been paid and all specific gifts of property and cash have been distributed.

RESP (Investment)

Registered education savings plan – A government registered savings or investment account that allows money for a child’s post secondary education to grow tax-deferred until the funds are withdrawn and may receive grants from the government.

Revocable trust (Trust and estate)

A trust which is by its terms, may be terminated by the settlor or by another person and the property in trust is recalled to the settlor or someone else.

Revolving credit (Borrowing)

A predetermined amount of money that is available to be borrowed and repaid repeatedly without the need for reapplying for the credit each time.

Revolving credit (Business banking)

A predetermined amount of money that is available to be borrowed and repaid repeatedly without the need for reapplying for the credit each time.

Rider (Insurance)

An additional insurance amount that adds or removes coverage; apart from the main contract.

Right of survivorship (Trust and estate)

The feature of joint tenancies whereby upon the death of one joint tenant, his interest will pass to the surviving joint tenant(s).

Risk tolerance (Investment)

The comfort level a person has with the idea that investments may fluctuate in value.

RRIF (Investment)

Registered retirement income fund – An option for the maturity of an RSP that allows for a stream of income during retirement.

RRSP (Business banking)

Registered retirement savings plan – A government registered account that helps Canadians save for retirement. An RRSP that holds investments, allowing their value to accumulate tax-free until funds are withdrawn at retirement or age 71.

RRSP (Investment)

Registered retirement savings plan – A government registered account that helps Canadians save for retirement. An RRSP that holds investments, allowing their value to accumulate tax-free until funds are withdrawn at retirement or age 71.

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