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
Waterproofing the joint of a roof. ...
Land expansion resembling a star. The starts center is the city, and major thoroughfares going away from the city are depicted. ...
Enclosed building that stores agricultural products (hay, livestock or farm equipment). ...
method of land description that identifies a parcel by specifying its shape and boundaries. ...
Possession and use of a property estate by virtue of a lease. There are four types of leasehold estates: estate for years, periodic tenancy, tenancy at will, and tenant at sufferance. ...
The land-to-building ratio is a means to calculate in percentage how much a structure occupies the total land parcel on which it is located. It is the total building area as a percentage of ...
Tax-free status given to certain nonprofit organizations and governmental entities. Churches, charities, and government buildings do not pay property tax because of their tax-free status. ...
A financial obligation comes in several ways. In general terms, the meaning of liability refers to the amount of money an individual or company owes to a lender. We define the party holding ...
Buying real property subject to risk. For the high risk undertaken, the expected return is higher. The investor may lose all of part of the initial investment. ...
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?
We're here to help.