Undue Influence - |
Taking any fraudulent or unfair advantage of another's weakness of mind, or distress or necessity.
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Unearned Increment - |
An increase in value of real estate due to no effort on the part of the owner.
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Unit Cost-in-Place Method - |
A method for determining cost or cost of reproducing an
improvement.
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Unlawful Detainer - |
An action at law to evict a person or persons occupying real property unlawfully.
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Usury - |
On a loan, claiming a rate of interest greater than that permitted by law.
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Valid - |
Having force or binding force legally sufficient and authorized by law; enforceable.
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Valuation - |
Estimated worth or price. The act of valuing by appraisal.
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Variable Interest Rate - |
An interest rate which fluctuates as the prevailing rate moves up or down. In mortgages there are usually maximums as to the frequency and the amount of fluctuation.
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Vested - |
Bestowed upon someone; secured by someone, such as title to property.
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Void - |
To have no force or effect; that which is unenforceable.
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Voidable - |
That which is capable of being adjudged void, but is not void unless action is taken to make it so.
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Voluntary Lien - |
Any lien placed on property with the consent of, or as a result of the voluntary act of, the owner.
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Waive - |
To relinquish or abandon; to forego a right to enforce or require anything.
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Warranty Deed - |
A deed used to convey real property which contains warranties of title and quiet possession and the grantor thus agrees to defend the premises against the lawful claims of third persons. It is used commonly in other states but not in California where it has been supplanted by the grant deed. The modern practice of securing title insurance has reduced the importance of express and implied warranty in deeds.
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Wrap-Around Mortgage - |
(Also called the all-inclusive mortgage or all inclusive trust
deed.) The wrap-around mortgage is a purchase money mortgage which is subordinate to, but yet includes the encumbrance or encumbrances to which it is subordinated.
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Act of city or county authorities specifying type of use to which property may be put in specific areas. |
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