Unbalanced Improvement
An improvement may not represent the most efficient, most practical, or most economical use of a property or portion of a property (also sometimes referred to as an under improvement). |
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Underwriting
Prior to granting approval, lenders utilize a standardized procedure of evaluating the amount of potential risk represented by a loan application. |
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Undivided Interest
Real property may be legally owned by several parties, even though it has not been formally divided into shares. |
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Unencumbered Property
An unencumbered property has a demonstrably free and clear title. |
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Uniform Residential Appraisal Report
The URAR is a common method of documenting the means through which the market value of residential property is assessed. |
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Unimproved Land
Unimproved Property is land that is vacant, undeveloped, or simply lacking any practical or useful feature. |
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Unity Of Ownership
When legal unity of ownership (or common ownership) exists, unity of time, title, interest and possession are commonly controlled in a manner in which the interests of a single participating party can be made subservient to the interests of the entire ownership group. |
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Urban Plan
prior to construction or expansion, a community may commission the drafting of a formal design, blueprint or growth program outlining proposed communal facilities such as the system of streets, sewers, water mains, parks, playgrounds etc. |
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Utility Value
Sometimes also referred to as the "value in use", the utility value is an owner's or investor's subjective assessment of amenities attaching to a property. |
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