| U Terms
: |
Under Licence
|
Early possession of the property before settlement with
the permission of the vendor. This usually involves the payment
of rent. |
Underlayment
|
A layer of wood between the sub-floor and the floor. |
Underpinning
|
Supports placed under an existing wall to provide added
strength. |
Undisclosed Heir
|
A person who claims the right to a piece of property after
the death of an owner without a will. |
Unilateral Contract
|
A one-sided contract. If one party makes a promise
to do something, the second party is not legally required
to perform. If the second party does comply, however,
the first party is obligated to keep its promise. |
Unsecured Loan
|
A loan that is not backed up by collateral. |
Utilities
|
The private or public service facilities such as gas, electricity,
telephone, water, and sewer that are provided as part of the
development of the land. |