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Real Estate Terms / Real Estate Dictionary


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Unbalanced Improvement
An improvement which does not serve the highest or best use for the site on which it is placed.

Underimprovement
A building which suffers from a deficiency of size or cost which makes it not the highest and best use of the site.

Undisclosed Principal
A party in a transaction who is unidentified. In some states there are very strict regulations concerning this practice. For example, a broker may ask to keep the identify of his client secret.

Undue Influence
Any improper or wrongful constraint, manipulation or persuasion whereby the will of a person is overpowered and he is inticed to do or refrain from doing something which he would not do if left to act freely.

Unenforceable Contract
A good contract but for some reason one that cannot be enforced under the law. For example, an unwritten real estate sales contract which cannot be enforceable due to the Statute of Frauds.

Unlimited Liability
The obligation of an owner to pay his creditors from his personal assets if his company cannot pay its debts. This term is in contrast to Limited Liability.

Usury
In accordance to law, this refers to regulating the charging of interest rates. Historically, charging interest on money lent or the taking of any compensation whatever for the use of money offended the usury laws which disallowed this practice.


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