Ultra Vires
Definition of "Ultra vires"
Action that is beyond that allowed legally. Examples are charging illegally high interest rate on mortgages and real estate exceeding the amount permissible by legal statute, and a real estate company performing duties it is not authorized by the corporate charter to perform. Violations may result in lawsuits.
Popular Real Estate Terms
The word’s etymology reflects several diverse or seemingly unrelated topics under the same umbrella. As part of everyday discourse, you’ll find the term “omnibus” ...
Angle from north or south of a property. When a real estate appraiser does surveying, it is looked at clockwise from north. It may assist in determining the form or boundaries of land. ...
The total return from holding a real estate investment for the holding period of time. The computation follows: For a mutual fund investing in a real estate, the return is in the form ...
Something that is illegal. An example is an unenforceable debt because it has exceeded the statute of limitations. ...
Legal rule, principle, or tenet. ...
Eight-by-four sheet of material attached to a wall's studs. It can be made attractive by wallpapering or painting. ...
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Exchange of products or property between individuals in which no cash is paid. ...
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