Unjust Enrichment
Definition of "Unjust enrichment"
Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the sacrifice or detriment of the other party must provide restitution. assume an electrician did work for Mr. Smith who suddenly died before making payment. The new owner of the house is legally obligated to pay the bill.
Popular Real Estate Terms
What remains after something is removed, such as substances left after a pollution treatment facility is removed. ...
Individual or entity who pays for the professional services of another person or business. ...
Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
Any written evidence or tangible material which can be reproduced as written material which is coherent and related to the subject at hand. This includes documents, contracts, inscriptions ...
Under current tax law, real estate is depreciated under either the straight-line method or modified accelerated cost recovery system (MACRS) method. See also MACRS. ...
The Ellwood method based on a multiplier of mortgage-equity to determine the value of income-producing property. ...
Apartment building in which each resident owns a percentage share of the corporation that owns the building. ...
Wood sheeting made from gluing together at lest three layers of veneer. The grain is placed at right angles with each adjoining layer's providing additional strength. ...
Sewer system built into the streets of a neighborhood that is capable of accommodating the excess water flow of a heavy storm without backing up or flooding. ...
Comments for Unjust Enrichment
can the doctrine of unjust enrichment apply when a buyer / seller benefits from the work, effort expertise and outlay of money of a real estate agent, only to have that buyer/seller buy / sell on their own ?
May 30, 2020 11:41:13Hey, Ken! There are different types of listing agreements that have different terms and requirements. We have an article about what you need to know when you hire a real estate agent that talks about the different types of listing agreements. Whether unjust enrichment applies to that particular situation is a matter that needs to be addressed by a real estate attorney, since there could be gray areas. We highly suggest that in this situation you reach out to a real estate attorney.
Jun 11, 2020 12:24:16Have a question or comment?
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