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
Privilege granted by a franchiser to a franchisee permitting the latter to operate using the franchiser's name. The franchisee must pay a franchise fee for such right. In addition, the ...
Obligation taken on by a person who did not obtain it originally, but agrees to honor the terms of the existing obligation as a condition for the transaction. By assuming the loan rather ...
Agreement in which some terms are yet to be carried out. The contract is still not fully completed. ...
Index of the costs to construct residential properties. ...
Group of rental occupants acting together. ...
The equity in property because of work in it by the buyer or holder which directly increases its value. ...
Individual who gives false statements under oath, which is a criminal act punishable by imprisonment and fine. An example is signing a tax return that fraudently understates rental income, ...
The interest rate and terms competing mortgage lenders are offering to potential mortgagees. The mortgage market is competitive on the basis of mortgage interest rates, points, credit ...
Provision in a lease agreement allowing the landlord to raise the rental to take into account inflation, higher upkeep costs, and higher interest rates. An index may be used such as the ...
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