Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
- U-Bolt
- A bolt shaped like the letter "U," with threading on both straight sections.
- UCC
- see Uniform Commercial Code.
- UF Wire
- Plastic insulated cable used for underground wiring.
- U-Hanger
- A metal fastener used to attach pipes to wooden joists under a floor.
- Ullage
- The empty portion of a partially filled tank.
- Ultimate Strength
- A maximum force an object can tolerate before failure.
- Ultra Vires
- Action that is beyond what is legally allowed.
- Ultrasonic
- Vibrations above the range of normal human hearing (50kHz or higher).
- Ultrasonic Examination
- An inspection method using ultrasonic waves to locate structural flaws in a sample of material.
- Ultrasonic Stud Finder
- A device using ultrasonic waves to detect studs behind a wall.
- Ultraviolet
- Light that is above the visible spectrum.
- Undercoat
- A priming coat of paint.
- Undercounter Lavatory
- see Lavatory, Under Counter.
- Underdrain
- A drainage system installed under a slab or street to divert and channel away excess water.
- Underfloor Raceway
- Hollow metal sections installed under a floor to contain electrical wiring. See also Underfloor Wiring System.
- Underfloor Wiring System
- Wires, for example electrical, which are placed beneath the flooring of a structure.
- Underground Feeder Cable
- Electrical cable with moisture resistant insulation, designed for underground use.
- Underground Service
- Electrical power lines that are run underground in the street and to the building. Underground service has largely replaced the use of above-ground power lines in new housing developments.
- Underimprovement
- Property improvements that are below the usual standard expectations.
- Underlayment
- Layer of wood between the floor and the subfloor.
- Underlying Mortgage
- The first mortgage on a property when other mortgages exist on the same property.
- Underpinning
- Reinforcement of a building with supports or the use of beams temporarily while the structure is being built.
- Undersupply
- When demand exceeds the amount of real estate property available causing the prices to rise.
- Undertone
- A light paint color.
- Underwriter's Laboratories (UL)
- Independent testing group that assesses the safety and quality of various electrical components. Once a product is approved, the manufacturer can place a "UL" label on the item.
- Underwriting
- Lenders evaluation of the risks posed by a borrower so that they can then set conditions for the loan.
- Underwriting Fee
- Fee charged by the lender to do the work to verify information, necessary to make a decision as to whether or not to approve a loan.
- Undisclosed Heir
- One who claims, after the death of an owner lacking a will, a right to a piece of that property.
- Undisclosed Principal
- When a major party to a transaction remains anonymous or when one party is not informed that there is a principal.
- Undisclosed Spouse
- A marital partner, who is not mentioned in a will but can claim a right to a piece of property.
- Undivided Interest
- Ownership by two or more persons, which entitles each to the right to use the entire property.
- Undue Influence
- When a person is forced to perform in a certain manner due to excessive influence, pressure or fear brought by another party and may be used to void a contract.
- Unearned Income
- Income received for work not yet finished, such as payment in advance for contracting work.
- Unearned Increment
- An increase in the value of a property, which is not due to any effort on the part of the owner.
- Unemployment
- Nonavailability of jobs for people able and willing to work.
- Unemployment Insurance
- State run insurance program, funded by employers and payroll taxes, that provides workers with weekly payments when they are fired or laid off.
- Unencumbered
- Real estate that is fear and clear of liens and obligations, such as a house without a mortgage.
- Unenforceable
- Contract that is not able to be legally enforced by the courts, such as contracts with minors and those containing fraud.
