Real Estate Dictionary

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Word:Definition:
UNDERIMPROVEMENT Improvement inadequate to support the highest/best use of the site. May be a structure of lower cost, smaller size, or lesser quality than those typical of the neighborhood.
UNDERUTILIZEDThe characteristics of underutilized project lands are: (1) Development of only a small amount of total land;Development behind schedule;Failure to meet annual management objectives;Low or declining public use;Unused recreation facilities.
UNDUE INFLUENCE Taking any fraudulent or unfair advantage of another's weakness in mind, distress, or necessity.
USURYOn a loan, claiming a rate of interest greater than that permitted by law.
UTILITYThe usefulness of a property; its ability to satisfactorily function for the purpose for which it was intended.
UTILIZATION INSPECTION An inspection of project lands buildings, and related facilities to determine if the property is being put to optimum use.
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