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DEFINITION OF TERMS A-D | E-H | I-L | M-P | Q-T | U-X | Y-Z


UCC - Uniform Commercial Code. (Com.Code, section 1101 et seq.)

UNDIVIDED INTERESTS - Unsegregated interests of co-owners in the entire property owned by them as tenants in common.

UNDIVIDED INTERESTS - Unsegregated interests of co-owners in the entire property owned by them as tenants in common.

UNJUST ENRICHMENT - Mistake or misfortune of one person unfairly benefiting another.

VARIABLE INTEREST - Interest rates fluctuating up or down according to current cost of money.

VERIFICATION - A sworn statement before a qualified officer (notary public) that the contents of a writing are true.

VEST - To give an immediate fixed right to property.

VESTED INTEREST - A property interest that is fixed or determined.

VESTEE - Present record owner.

VOLUNTARY LIEN - A lien intentionally created or entered into by a debtor.

WAIVE - To release or abandon a right or a privilege.

WAIVER - The act of releasing or abandoning a right or a privilege.

WARRANTY DEED - A deed containing express covenants as to good title and right to possession.

WRAP-AROUND MORTGAGE - Same as an "all inclusive mortgage": One incorporating the balance due under a prior mortgage. ZONE: Area in a community designated for specified use and purpose
 

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