| EARNEST MONEY | A sum of money given to bind a sale of real estate. |
| EARNEST MONEY DEPOSIT | A portion of the purchase price paid to demonstrate the buyer's good faith(i.i. intent to go through with the purchase). Payment is usually accompanied by an agreement outlining the terms and conditions of the sale. |
| EASEMENT | A right of way giving persons other than the owner access to or over a property. A common is a utility easement, which gives the power company the right to put power lines and poles over properties to deliver electricity. |
| EASEMENT RIGHTS | The rights of an individual to use another individual's property for a particular purpose(e.g. access to their own property). The seller should make the buyer aware of any easement rights that affect the property for sale. |
| EGRESS | The right to leave a tract of land. "Often used interchangeably with access."(See Access) |
| EMINENT DOMAIN | The power of the state to take private property for public use upon payment of just compensation. |
| ENCROACHMENT | The physical intrusion of a structure or improvement on the land of another. Examples include a fence or driveway over the property line. |
| ENCUMBER | To burden a parcel of land with a lien or charge such as a mortgage. |
| ENCUMBRANCE | Any lien, liability or charge against a property. |
| ENTITLEMENT | A right due to an individual. Their term, when used with VA insurance, refers to the loan amount that the VA will guarantee for a particular borrower. |
| EQUITY | The amount or value of a person's interest in a property in excess of any lien against the property. For example, if a person makes a down payment of $30,000 on a property with market value $120,000 and takes out a mortgage for $90,000, at the time of pur ...... |
| EQUITY SHARING | A form of joint ownership between an owner/occupant and an owner/investor. The investor takes depreciation deductions for his share of the ownership. The occupant receives a portion of the tax write-offs for interest and taxes and a part of his monthly pa .... |
| ESCHEAT | Property that reverts to the state when an individual dies with heirs and without a will. |
| ESCROW | A disinterested third party holds funds or documents on behalf of others and subject to their instructions. |
| ESCROW-ACCOUNT | An account set up by the lender into which the borrower makes periodic payments, usually monthly, for taxes, hazard insurance, assessments, and mortgage insurance premiums. The funds are held in trust by the lender who pays the sums as they become due. |
| ESTATE | A person's possessions. |
| EXAMINATION OF TITLE | The interpretation of the record title to real property based on the title search or abstract. |
| EXCEPTION | In legal descriptions that portion of lands to be deleted or excluded. "The term is often used in a different sense to mean an objection to title or encumbrance on title." |
| EXECUTOR | A person named in a will to carry out its terms and administer the estate. The feminine form is Executrix. Compare, ADMINISTRATOR. |
| EXTENDED MORTGAGE | One in which due date of mortgage is extended for longer period. Often at higher interest rate than original mortgage. |
PRIVACY POLICY:
Any information you provide is not redistributed, sold, shared or exploited in any way to
any other parties or organizations. You WILL NOT be contacted by anyone from MrRealesTATE.net in any way
other than email unless requested. Your email address (if provided) will be automatically entered into
the MrREALESTATE email database and you will receive periodic news letters, updates, listing information (if
requested), holiday greetings and more.
EQUAL HOUSING: All real estate information is subject to the Federal Fair Housing Act of 1968 which makes
it illegal to advertise "any preference, limitation or discrimination based on race, color, religion, sex,
national origin, handicap, or familial status, or an intention to make any such preference, limitation of
discrimination." Housing Discrimination Hotline: 1-800-669-9777