U

Unencumbered

An Unencumbered property is one that is free from outstanding debts and has no legal restraints to its title. In this situation, no company can hold a claim or lien that could compromise the marketability of the property or delay a purchase transaction. The owner can put the property up for sale...

Underinsurance

Underinsurance is basically the difference between the value of something and the value of insurance that protects it. For example, a homeowner can underestimate the value of their possessions, which may be significantly higher than they originally estimated when they purchased contents insurance....

Unadopted road

Unadopted or private roads do not belong to any Local Authority and they have no duty to maintain them.  However, they may be rights of way - and/or highways for specific classes of vehicle.  More about private or unadopted roads....

Undertaking

A binding promise or contract to do something. Conveyancers and solicitors often give undertakings in the course of a conveyancing transaction and can be called to account for any failure to comply with them....