A non-recourse debt or a nonrecourse loan is a type of debt/loan, which is secured by a pledge of collaterals such as real estate, equipment, vehicles, etc., but for which the borrower is not personally liable.
In other words, if the borrower/debtor defaults on payments, the lender can seize the pledged collateral itself. Thus if the value of the ceased property is less than the amount of the debt/loan, the lender cannot seek deficiency payments from the borrower: the recovery is limited only to the value of the collateral.
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