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| Earnest Money-
A deposit made by a purchaser of real estate to show good faith. This deposit is given when a sales agreement is signed; displaying the buyer is serious about purchasing the property. If the sale falls through, the earnest money is forfeited, unless otherwise specified in the agreement.
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| Easement-
The right and entitlement giving persons, other than the land?s owner, access to and/or over a property.
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| Eminent Domain-
The right of the government to acquire and take possession of private property for public use by condemnation. The private property owner must be fairly compensated.
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| Encroachment-
A building, part of a building, or an obstruction that illegally intrudes upon, overlaps, or trespasses on another?s property.
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| Encumbrance-
Anything that affects or limits the value of a property, including mortgages, leases, easements, liens, unpaid taxes, or restrictions.
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| Equity-
The difference between a property?s fair market value and the remaining balance on its mortgage or other liens.
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| Escrow-
Money, documents, or an item of value such as real property held by a third party for security until specified conditions of an agreement are fulfilled or performed.
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| Estate-
The ownership interest that a person has in real property. This is the total of all property, real and personal, owned by the individual at the time of death.
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| Eviction-
A legal proceeding by a landlord to remove an occupant from a property in order to recover possession.
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| Exchange (1031)-
Under this section of the IRS Tax Code, investment property owners may exchange like-kind property tax-free. This type of exchange is subject to certain conditions, including time constraints.
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