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Glossary
of Real Estate Terms
Glossary for "U"
Underlayment
A layer of wood between the subfloor and the floor.
Underwriting
The process that lenders go through to evaluate the risks posed
by a particular borrower and to set appropriate conditions for the
loan.
Undisclosed
heir
A person who claims the right to a piece of property after the death
of an owner without a will.
Undisclosed
spouse
An unidentified marital partner who can claim the right to a piece
of property.
Unrecorded
deed
An unrecorded deed transfers ownership from one party to another
without being officially recorded.
U.S.
Department of Housing and Urban Development (HUD)
A federal agency that oversees the Federal Housing Administration
and a variety of housing and community development programs.
Unsecured
loan
Any loan that is not backed by collateral.
Upgrades
Options than the standard carpeting, lighting, finish carpentry
and other amenities offered to all buyers in a new-home project.
Upzoning
The process in which a property is zoned from a lower to a higher
use.
Urban
sprawl
The unplanned expansion of development over a large area.
Usury
A reference to illegally excessive interest charged on any loan.
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