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
The Loan-to-value ratio (LTV) is a calculation that measures how much you need to pay for a mortgage (loan) concerning how much the asset is worth. The loan-to-value ratio in real ...
The clause in a deed beginning with the words " to have and to hold" limiting or defining the ownership nature of the estate in the property granted by the deed. Declares the type of ...
Device that cuts off an electric circuit when the current becomes to strong. ...
Law enacted by a local authority applicable to the action of people or things. An example is a fine of $5,000 for littering vacant real estate. ...
Large room at the entrance to a building designed for people to converse or move about freely. ...
The value of property subject to tax. The tax equals the tax rate multiplied by the property's value. ...
How much water may be retained in a unit, such as an expansion tank in a home. ...
Style of the 19th century resembling an old church. It has a tile roof, arch-shape windows, stucco walls, and pyramid roof. ...
An individual, educated, trained, and licensed in the principles of designing structures, and rendering drawings, specifications, bidding requirements. ...
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