Unjust Enrichment

Definition of "Unjust enrichment"

Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the sacrifice or detriment of the other party must provide restitution. assume an electrician did work for Mr. Smith who suddenly died before making payment. The new owner of the house is legally obligated to pay the bill.

Search Real Estate Glossary

Related Real Estate Glossary terms

Mortgage Banking Software

Computer software packages designed to serve mortgage banking functions, such as mortgage loan accou ...

Indirect Loss

Loss that is not a direct result of a peril. For example, damage to property of a business firm woul ...

Joint And Several Liability

Two or more people have a legal duty that can be enforced against them by joint action, against all ...

Retirement Income Endowment Policy

Type of endowment insurance that matures at a stipulated retirement age and whose purpose is to prov ...

Scheduled Mortgage Payment

The amount the borrower is obliged to pay each period, including interest, principal, and mortgage ...

Federal Insurance Contributions Act (fica)

Tax charged to finance the old age, survivors, disability, and health insurance (OASDHI) plan. Both ...

Related Real Estate FAQ

How Much Income Do I Need ?

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ...

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. T ...

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Is A Loan-to-value (LTD) Ratio?

A loan-to-value ratio is used by lenders to state how much you have financed. If you put down 20 per ...

What Is A Mortgage Banker?

A mortgage banker is a company that originates mortgages and sells them to a secondary market. ...

Is Depreciation Common?

Generally, real property never depreciates in value, or more so, it is not very common for property ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

How To Choose A Realtor 5 U.S. Cities with the Best Public Transportation What is the Best Time of Year to Buy a Home? 5 signs of house foundation problems What is Hazard Insurance?

FAQ

What is Long Term Care Insurance? What is a treasury index? Who is a subagent? What is an amortization? What is a seller disclosure?