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
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Agreement between two or more individuals whereby each party agrees to do or not to do some act. The parties have reciprocal obligations of performance or actions. ...
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Scale drawing or diagram illustrating the proposed use of a land plat property. ...
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Gift of real property as stipulated in a will. ...
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An interest a landlord has in lease property. ...
Flat irregularly shaped stones, ranging from 1 to 4 inches thick, used for terrace or loan walkways. ...
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