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New York and Connecticut Real Estate
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Bettina Rizzo Tel: 203-223-6351 Max Dominguez Tel: 203-223-3684 296 Bedford St Stamford, CT 06901 Century 21 Roman Realty Tango Team Cell: 203-223-3684/203-2236351 Fax: 1-866-873-4637

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The Loan Process Tips and Tricks FAQs Glossary

Glossary

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Underwriting
The decision whether to make a loan to a potential home buyer based on credit, income, employment history, assets, etc.
Undivided Interest
An ownership right to use and possess a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property.
Unincumbered Property
Real estate with free and clear title.
Unimproved Property
Land that has received no development.
Unrecorded Deed
A document that transfers title from the grantor to the grantee without recording (i.e. providing public notice).
Usury
Charging a rate of interest greater than that permitted by law.