Microsoft BizSpark
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| Term | Definition |
|---|---|
| U.S. Department. of Housing and Urban De |
The federal agency overseeing the Federal Housing Administration and various other housing and community development programs.
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| Underwriting |
The application of formal guidelines that provides specific perameters and standards for determining whether a loan should be approved or not.
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| Undivided Interest |
The ownership right to use and possession of a property that is being shared among multiple co-owners, and no one co-owner having exclusive claim to any portion of the property.
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| Unencumbered Property |
A property owned free and clear.
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| Unilateral Contract |
An obligation accepted by one party contingent on the performance of a second party, but without obligating the second party to perform the specific action.
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| Unimproved Property |
Land that is undeveloped, without construction, and has no site preparation (raw land).
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| Unrealized Gain |
The amount of money of current market value minus cost for an asset that is not sold.
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| Unrecorded Deed |
An instrument that transfers title from one party (grantor) to another party (grantee) without having been recorded, and no public notice of the change in ownership having been made.
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| Urban Renewal |
The redevelopment of deteriorated sections of a city, often by demolition and new construction, can be privately funded, but is usually in association with government renewal programs.
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| Usufruct |
The right to use someone else's property, or income from someone else's property.
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| Usury |
Charging an interest rate exceeding the amount permitted by state law.
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| Utility Easement |
Using another's property to lay water, gas, sewer and/or electric lines.
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