non-recourse
adjective
non-re·course
ˌnän-ˈrē-ˌkȯrs, -ri-ˈkȯrs
: of, relating to, or being a debt whose satisfaction may be obtained on default only out of the particular collateral given and not out of the debtor's other assets
a non-recourse mortgage
compare recourse
Love words? Need even more definitions?
Merriam-Webster unabridged
Share