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
A public officer given the right to authenticate a document, accept a person's oath, administer depositions, and to conduct other activities in commercial business. An official seal is used ...
Single mortgage or other encumbrance that covers more than one piece of real estate. ...
The ability to pay is a self-explanatory term used in Real Estate to determine if the Home Buyer has the financial health to honor a deal. Mortgage Lenders can't afford to lend out money ...
One who has died with a valid will in effect. ...
What is the ANSI (American National Standards Institute) Standard? Before arriving at the definition of ANSI standard, you must know that ANSI stands for The American National ...
State tax based on the value of property received through inheritance. The tax is paid by the recipient not the estate. Tax paid to the government or state upon the death of the taxpayer ...
Lease where, in addition to the rent, the lessee pays the taxes, insurance, and maintenance. As a guarantee for the lessor, the lessee posts a bond payment equivalent to one year's tax, ...
(1) The transformation of a racially integrated neighborhood-bousing pattern into segregated housing. (2) Deterioration, destruction, or decay. ...
Combination of insurance policies on property with each providing an additional increment of coverage exceeding the limits of the preceding policy. For example, policy A adds $70,000, then ...
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.