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.
Popular Real Estate Terms
Mortgage that has an interest rate that changes based on some event. For example, the interest rate may vary depending on changes in the prime rate or inflation rate. ...
The definition of a testator in real estate is an individual who makes or leaves a valid will detailing how their possessions are to be divided or distributed among their heirs. The ...
Secondary is something that is less important than or compared to something else. Secondary can also be a result of something or someone that is primary by definition. A secondary location ...
A flexible price that may be adjusted. A resolved situation between two or people or parties through discussions in which common interests are modified. For example, real estate ...
Wondering what a Judgment Lien is?Well, a Lien can be consensual or non-consensual, right? Meaning it can be forced or agreed upon by way of a bilateral contract. When we say ...
Aerial photos are photographs taken by cameras mounted in aircraft or satellites. Aerial photos are more commonly used in the industrial Real Estate Market to get a better feel of a ...
The total expenditures required to make a locality suitable for the designated purpose. An example is how much it would cost to build a shopping center on a lot. ...
Loss of property from nonfulfillment of some duty or condition. In some cases, forfeiture is required by a court order, whereas in other cases the nonfulfillment of a contractual debt is ...
Property boundary demarcated by the curb. ...
Comments for Unjust Enrichment
can the doctrine of unjust enrichment apply when a buyer / seller benefits from the work, effort expertise and outlay of money of a real estate agent, only to have that buyer/seller buy / sell on their own ?
May 30, 2020 11:41:13Hey, Ken! There are different types of listing agreements that have different terms and requirements. We have an article about what you need to know when you hire a real estate agent that talks about the different types of listing agreements. Whether unjust enrichment applies to that particular situation is a matter that needs to be addressed by a real estate attorney, since there could be gray areas. We highly suggest that in this situation you reach out to a real estate attorney.
Jun 11, 2020 12:24:16Have a question or comment?
We're here to help.