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Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Principal

Phonetics: prin·ci·pal    \'prin-sə-pəl\

Function: noun

Definition 1:
Principal refers to the total amount of money originally deposited into a Savings or CD account. However, when taking out a loan, it refers to the amount of debt, not including interest.

Definition 2:
The Grantor in a Power of Attorney document. The person or entity who grants powers, rights or privileges to an agent or attorney in fact.