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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An official indicating intensity of land use in a zoned urban area. ...
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Tax deduction permitted upon the transfer of property from one spouse to another. The deduction is allowed under the federal gift tax for lifetime transfers or under the federal estate tax ...
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