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
Analysis of the risks and rewards to an individual in making a particular property investment. Investment analysis considers the cost of the original investment, the investment return over ...
A court order on an issue directly related to the immediate action. ...
Something that is inferred, but not explicitly stated. The inference may be deducted from the relevant information. ...
Gift of real property as stipulated in a will. ...
Metropolitan locality such as a city. It is heavily populated with many residents and businesses. An example is New York City. ...
Same as term access right: The right of a property owner to freely go to and return from an adjoining highway without interference." rollover;"Same as term: Tax-free exchange that allows ...
Raising money by mortgages and borrowing the money directly from financial institutions. The presence of debt financing provides financial leverage, which tends to magnify the effects of ...
Tax concept whereby income not actually received is considered to be constructively received by a taxpayer and thus must be reported. An example is a bond interest coupon. The interest is ...
Formal or legal description of property and its dimensions included in deeds, leases, listing agreements, rental agreements, and sales contracts. ...
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