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
Measure of land representing one square mile. A section equals 640 acres. ...
Generally, a turnaround means a performance improvement. The term applies to various economic fields and real estate too. What does turnaround mean? After a prolonged recession, a ...
Precalculated tables providing the present values of $1 or an annuity of $1 for different time periods and at different discount rates. ...
Degree of completion or accomplishment such as a home that is 70% completed. Condition of real property. Position of an item. Legal standing such as of a case. ...
An individual appointed by a court to manage the affairs and property of a legally incompetent party. The conservator has full decision-making authority over the affairs of the property in ...
Administering and directing the activities of a real estate brokerage firm to assure they are in compliance with regulations and policies. ...
Single-family dwelling attached to other units by common walls. ...
Financial standing of a debtor as a basis to pay obligations. ...
A property manager is either a person or a company that supervises real estate units’ daily operations. They can either manage individual units or entire buildings, both residential ...
Have a question or comment?
We're here to help.