Underlayment A layer of wood
between the sub floor and the floor.
Underwriting The process that
lenders go through to evaluate the risks
posed by a particular borrower and to set
appropriate conditions for the loan.
Undisclosed heir A person who
claims the right to a piece of property
after the death of an owner without a will.
Undisclosed spouse An
unidentified marital partner who can claim
the right to a piece of property.
Universal Design
Universal design is the design of products
and environments to be usable by all people,
to the greatest extent possible, without the
need for adaptation or specialized design
for wheelchair, handicap accessibility.
Unrecorded deed An unrecorded
deed transfers ownership from one party to
another without being officially recorded.
U.S. Department. of Housing and Urban
Development (HUD) A federal agency
that oversees the Federal Housing
Administration and a variety of housing and
community development programs.
Unsecured loan Any loan that is
not backed by collateral.
Upgrades Options than the
standard carpeting, lighting, finish
carpentry and other amenities offered to all
buyers in a new-home project.
Up zoning 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 A reference to illegally
excessive interest charged on any loan.
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