Underwriting
The process of analyzing a borrower's capability to honor repayment of a loan (evaluating his or her credit, assets,
employment) along with the value of the property being purchased, to help minimize the risk involved for the party lending the
purchase money
Undivided Interest
Title to real property held by two or more persons without specifying the interests of each party by percentage or description
of a portion of the real estate. Such interests are typical between joint tenants, tenants in common, tenants by the entirety
Unilateral Contract
A one-sided contract in which only one party is legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the second part does comply, then the first party is
obligated to honor the promise made
Unsecured Loan
A loan that is not guaranteed by collateral
Usury
The act of charging more than the maximum rate of interest permitted by law
The process of analyzing a borrower's capability to honor repayment of a loan (evaluating his or her credit, assets,
employment) along with the value of the property being purchased, to help minimize the risk involved for the party lending the
purchase money
Undivided Interest
Title to real property held by two or more persons without specifying the interests of each party by percentage or description
of a portion of the real estate. Such interests are typical between joint tenants, tenants in common, tenants by the entirety
Unilateral Contract
A one-sided contract in which only one party is legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the second part does comply, then the first party is
obligated to honor the promise made
Unsecured Loan
A loan that is not guaranteed by collateral
Usury
The act of charging more than the maximum rate of interest permitted by law
| Real Estate Terminology, Wording |
Gladwin Real Estate Information
