Real Estate Dictionary Terms - U
Undue Influence
A compulsory charge on property or individuals, the payment of which
supports a government. Taking any fraudulent or unfair advantage
of another's necessity or weakness of mind. Using a position of trust
and confidence improperly to persuade a person to take a course of
action. By relying on the trusted confidant, the decision maker fails
to exercise his free will and independent judgment.
Unearned Increment
An increase in value of real estate due to no effort on the part
of the owner, often due to an increase in population.
Unenforceable
Incapable of being enforced at law. An example of an unenforceable
contract is an oral listing agreement to pay a broker a commission.
Uniform Commercial Code
A group of statutes establishing a unified and comprehensive scheme
for regulation of security transactions in personal property and
other commercial matters, superseding the existing statutes on chattel
mortgages conditional sales, trust receipts, assignment of accounts
receivable, and other similar matters.
Unilateral
One-sided, ex parte.
Unilateral Contract
An agreement to exchange payment for services, where payment becomes
due only once the service has been successfully performed. A listing
agreement for the sale of real property may be a unilateral contract.
Unjust Enrichment
A legal doctrine that prevents a person from inequitably benefiting
from another's mistake, poor judgment, or loss. In a land sales contract
the vender may no longer keep both the property and the buyer's excess
payments (over his damages) in the event of breach, because to do
so would unjustly enrich him at the buyer's expense.
Unlawful Detainer
An action to recover possession of real property. A lawsuit designed
to evict a defaulting tenant, or anyone unlawfully in possession
of property, from premises. It is summary in nature, entitled to
a priority court trial, and litigates only the right to possession
of property (and damages resulting therefrom).
Unlawfull
Illegal.
Unruh Civil Rights Act
Deals with equal rights in business establishments, prohibits age
limitations in housing, and sets age limitations necessary for senior
housing. It states that all persons within California are free and
equal no matter what their sex, race color, ancestry, national origin
or disability, they are entitled to full and equal accommodations.
Unsecured Debt
A debt not backed by specific property to satisfy the indebtedness
in case of default.
Upon The Death Of The Individual
Title passed back to the sovereign, not to the decedent's heirs.
Urban Property
City property; closely settled property.
Usury
Claiming a rate of interest greater that that permitted by law. Charging
a greater rate of interest on loans than the rate allowed by law
(10 percent in many cases). The illegal act of charging extremely
high interest rates on a loan.
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