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Unilateral contract
Unilateral contract A one-sided contract wherein one party makes a promise so as to induce a second party to do something. The second party is not legally bound to perform.
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Contract
A legal agreement between entities that requires each to conduct (or refrain from conducting) certain activities.
SIMILAR TERMS--------------------------------------
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Uniform Condominium Act (UCA)
Under its provisions, a condominium is created and established when the owner of an existing building (or developer of unimproved property) executes and records a declaration of condominium.
Uniform Partnership Act (UPA)
Permits real estate to be held in the partnership name. The "Uniform Limited Partnership Act" (ULPA) establishes the legality of the limited partnership entity and provides that realty may be held in the limited partnership's name.
Uniform Residential Landlord and Tenant Act (URLTA)
A uniform act intended to provide some consistency in regulating the relationship of landlord and tenant in residential leases.
Uniform residential loan application
A loan application form required by Freddie Mac and Fannie Mae.
Uniform settlement statement
The standard HUD Form 1 required to be given to the borrower, lender and seller at the time or before settlement by the settlement agent in a transaction covered under the Real Estate Settlement Procedures Act.
Unilateral contract
Unimproved land
Most commonly refers to land without improvements or buildings but also can mean land in its natural state.
Unit-in-place method
The appraisal method of estimating building costs by calculating the costs of all of the physical components in the structure with the cost of each item including its proper installation, connection, etc.
Unity of interest
All joint tenants holding equal ownership interests.
Unity of ownership
The four unities that are traditionally needed to create a joint tenancy-unity of title, time, interest and possession.
Unity of possession
One of the four "unities" required to create a joint tenancy. All joint tenants hold an undivided right to possession.
This dictionary contains 6433 terms. |
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