• Underwriting
The process of evaluating a loan application to determine the risk involved for the lender. Underwriting involves an analysis of the borrower's creditworthiness and the quality of the property itself.

• Unilateral contract
An agreement to exchange payment for services, where payment becomes due only once the service has been successfully performed. A listing agreement for the sale of real property may be a unilateral contract.

• Unlawful detainer
An eviction lawsuit.

• Unsecured loan
A loan that is not backed by collateral.

• Upon the death of the individual
Title passed back to the sovereign, not to the decedent's heirs.

• Usufruct
The right to use property--or income from property--that is owned by another.

• Usury
The illegal act of charging extremely high interest rates on a loan.

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