House Buyer Directory Glossary
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Underwriting The act of applying formal guidelines that provide qualitative and quantitative standards for determining whether or not a loan should be approved.

Undivided Interest An ownership right to use and possession of a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property.

Unencumbered Property Real estate that is owned free and clear.

Unrecorded Deed An instrument that transfers title from one party (grantor) to another party (grantee) without providing public notice of the change in ownership.