Under contract
The period of time after a seller has accepted the buyer's offer to purchase a property and the buyer uses this time to perform its due diligence and finalize financing arrangements. During this time, the seller is prohibited from entertaining offers from other buyers.
Unencumbered
Refers to the title to property that is free of liens and any other encumbrances.
Unimproved land
Land in its natural state, devoid of any building or manmade changes.
Use
The term is referred to the purpose for which a property is occupied, mostly related to zoning by-laws or ordinances.
User
A person who uses, enjoys or has a right over a property.