Unsecured Loan
Loan not backed by collateral.

Unsecured Note
Credit note with only the borrowers financial situation and credit history as security.

Unsolicited Listings Real
Estate listing obtained without any effort on the part of the real estate broker.

Unsuitable Material
Material that is unacceptable for a given use. Often specifically applies to soil that is too wet to support a road or other structure - see Unsuitable Soil.

Unsuitable Soil
Ground that is not suitable for intended construction on the site, often because of an excess of moisture or general poor soil quality. Special foundations and design modifications may be necessary to allow construction to proceed.

Up-front Fee
Fee received immediately when a contract is signed or an investment made.

Upgrades
Options offered to buyers that go beyond the standard. Usually in a new home, they often are more lighting, better carpeting etc.

Upland
Land which adjacent to water, such as a stream.

Upset Date
Contract provision allowing a purchase the right to cancel a contract if the occupancy requirements are not satisfied by a certain date.

Upset Price
An established amount, in a bidding procedure or auction, below which the seller is not obligated to accept the winning bid. Also referred to as a reserve price.

Upside Potential
An approximation of the potential appreciation of value in real estate by considering location, amenities or increase in rental income.

Upzoning
Rezoning of property to a higher use.

URAR
see Uniform Residential Appraisal Report.

Urban
Relating to a city.

Urban Development Action Grant
Grant intended to stimulate private investment in distress cities and urban areas by providing federal seed money, thereby attracting private funds for revitalization. HUD funds are transferred directly to cities and states for urban renewal projects.

Urban Land Institute (ULI)
Nonprofit entity from which you can obtain data and advice on the best utilization of land. Address: 1090 Vermont Avenue, NW, Washington, D.C. 20005. Telephone: (202) 289-3307.

Urban Property
Real estate located in a heavily populated city area.

Urban Renewal
Older property purchased by a governmental agency and improved or modernized or demolished and replaced.

Urban Space
Land availability in an urban area.

Urban Sprawl
Unplanned & unexpected expansion of a large area of development in an urban area.

Urea Resin Glue
Water resistant adhesive sold in powdered form.

Urethane Varnish
Durable varnish used frequently on wood floors.

Urethane Varnish, Moisture-Curing
Oil-free varnish used in damp areas. The varnish cures by reacting to moisture in the air.

U.S. Department of Housing and Urban Development (HUD)
Federal Agency overseeing the Federal Housing Administration, in addition to a number of housing and community development programs.

U.S. Gallon
Measurement of liquid volume equal to 128 ounces (4 quarts).

Use Density
Percentage of land allowed for productive use to the total square footage of the land. For example: 50,000 total square footage with 40,000 square feet allowable for building due to zoning gives a density rate of 80%.

Use Tax
Levy charged for use of things such as town water, etc.

Useful Life
Usual operating service life of property used for depreciation accounting, which does not necessarily coincide with the actual physical life.

USPAP
see Uniform Standards of Professional Appraisal Practices.

Usufructuary Right
One individual's right to utilize the property of another such as the privileges given under an easement.

Usury
Excessive and illegal interest charged on a loan.

Usury Laws
State laws which limit the interest rate charged to persons borrowing money in that state.

Utilities
Services provided to land or houses by public utility companies such as water, gas, electricity, etc.

Utility Easement
A passage through property that is granted by the owner to a public utility.

Utility Knife
A small knife with a small, sharp, retractable blade.

Utility Room
Room that contains the appliances necessary for the maintenance of that establishment.

U-value
Amount of heat conducted by a window or door between the air in the environment and the inside air.

UV Inhibitor
Material that blocks UV light.