A loan rate that moves up and down based on factors including changes in the rate paid on bank certificates of deposit or Treasury bills. …
Variable Rate
An interest rate that changes with fluctuations in such indexes as the U.S. Treasury bill index. …
Variable Rate Mortgage (VRM)
A loan with an interest rate that hinges on factors such as the rate paid on bank certificates and Treasury bills. A mortgage where the interest rate varies during the term of the mortgage, usually …
Undisclosed Spouse
A marital partner who can claim the right to a piece of property but is not identified in the owner's will. …
Unilateral Contract
A one-sided contract. If one party makes a promise to do something, the second party is not legally required to perform. If the second party does comply, however, the first party is obligated to keep …
Unrecorded Deed
A deed that transfers ownership from one party to another without being officially recorded. …