Quasi-contract
Legal obligation to pay for a benefit received as if a contract has actually occurred. This may arise in a few cases so that an equitable situation occurs. An example is when a homeowner allows repairs to be performed knowing that a reasonable fee will be charged. It would be unfair for the homeowner to have unjust enrichment at the suffering of the one performing the work.
Popular Real Estate Terms
Identifying marker of a company. Attesting to something such as the validity of an instrument used in real estate. ...
The term lock-in clause is used in an agreement that prescribes a period of time within which either of the parties that signed a contract cannot terminate the contract. In case one of the ...
Passageway providing public access from a building interior to an exit. Long interior passageway providing access to rooms. ...
Properties that about and actually touch and share a common border. Properties B and C are contiguous. Property A is adjacent to properties B and C, but it is not contiguous. ...
Individual corporation, and so on permitted by law to own property and engage in business. Here, two or more companies operate under common control. Separate economic unit subject to ...
Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
Period of time during which a complainant in a real estate transaction can seek a financial recovery from a licensed real estate broker or agent. The time period is determined by state ...
Right of any government agency to enact and enforce certain regulations to provide for the health and safety and general welfare of the public. ...
A lower phase of a business cycle in which the economy is deteriorating, coupled with a declining rate of business investment and consumer spending. Real Estate prices are typically ...
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