Terms Starting with U

  • Upper Middle Income Country (UMIC)Acronym,
    • Upside-down Definition,
      • A position that consumers find themselves in when the outstanding balance of a loan is higher than the current fair market value of the property purchased with the loan. See also "Depreciation."
    • Upzoning Definition,
      • The process, often controversial, of changing the zoning in an area, usually to allow greater density or commercial use. Sometimes the term is used to mean the opposite -- changing the zoning in a broad area to limit growth and density.
    • Uranium City Airport (YBE)Acronym, Uranium City, Saskatchewan, Canada,
      • Urea Formaldehyde Foam Insulation (UFFI)Acronym, Important,
          Most lender will not lend on properties containing UFFI or where UFFI has been removed.
        • US Bulk Exchange (USBE)Acronym,
          • Use and Occupancy Insurance (U&O)Acronym,
            • Used Vehicle Information Package (UVIP)Acronym, Ontario, Canada,
                Lists the vehicles previous owners and current registrant in Ontario.
              • Useful Life Definition,
                • The number of years depreciable business property is expected to be productive and in use.
              • Usual Marketing Requirements (UMR)Acronym,
                • Usual, Customary and Reasonable (UCR) Acronym,
                  • The expected cost of a medical treatment, and what an insurance company is willing to pay.
                  In relation to medical fees.
                • Usual, Customary and Reasonable Fees Definition,
                  • The expected cost of a medical treatment, and what an insurance company is willing to pay.
                • Usurious Rate Definition,
                  • An interest rate that is unnecessarily high or well above legal rates. For example, sometimes intangible property taxes are applied to income from usurious rates.
                • Usury Definition,
                  • Illegal, excessive interest.
                • Utilities (util)Abbreviation,
                    Gas and electricity.
                  • Utilities Included (util incl)Abbreviation,
                      Utilities are included in the monthly rent.
                    • Utility Closet (utcl)Abbreviation,
                      • Utility Room (utrm)Abbreviation,
                        • Utility Room Level (utlvl)Abbreviation,
                          • Utilization Definition,
                            • How frequently a policyholder makes use of their insurance policy.
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