REAL ESTATE DICTIONARY

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	U-value The amount of heat a door or window conducts between the inside air and the environment.
	U.S. Department of Housing and Urban Development Also known as HUD. A federal agency that oversees the Federal Housing Administration and a variety of housing and community development programs.
	unbundled real estate services Real estate services not bound together, but purchase transaction at a time.
	underlayment A layer of wood between the subfloor and the floor.
	underwriters' knot A code-approved knot tied at the end of an electrical cord to prevent the wires from being pulled away from their connection to electrical terminals.
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	underwriting The process in which lenders evaluate the risks posed by a particular borrower and set appropriate conditions for the loan.
	underwriting fee A fee charged by the lender to verify information on the loan application, authenticate the property's worth as collateral, and make a final determination about whether to grant a loan to the applicant.
	undisclosed heir A person who claims the right to a piece of property after the death of an owner without a will.
	undisclosed spouse A marital partner who can claim the right to a piece of property but is not identified in the owner's will.
	unilateral contract A one-sided contract. If one party makes a promise to do something, the second party is not legally required to perform. If the second party does comply, however, the first party is obligated to keep its promise.
	unrecorded deed A deed that transfers ownership from one party to another without being officially recorded.
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	unsecured loan Any loan that is not backed by collateral.
	unsecured loan An unsecured loan is a loan that is not backed up by collateral. Often, loans from family members or pesonal acquaintances are unsecured loans. A gift from another person that is not expected to be repaid is not an unsecured loan.
	upgrades Options offered to buyers in a new-home project that go beyond the standard carpeting, lighting, finish carpentry, and other amenities.
	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 Illegally excessive interest charged on any loan.