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
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Insulating material attached to crevices around doors and windows to prevent air from either entering or escaping from a structure. Tacked, stapled, or glued onto the surfaces of the doors ...
mortgage being reduced through periodic principal and interest payments. ...
Losses arising from damage to or destruction of property. ...
Creates a lien against the mortgagor's property, but does not permit a lien against his or her personal assets. See also non recourse. ...
Created by law usually for the right to travel to landlocked parcel of land ...
Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
Unexpected increase in the price of property not due to any effort on the owner's part. An example is when the appraised value of a house increases because of a population increase in the ...
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