Welcome > Resources > Real Estate Dictionary - A

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

E

Earnest money	A deposit made of a portion of the purchase price by the buyer to demonstrate his or her serious intent to purchase the property, usually accompanied by an agreement outlining the terms and conditions of the sale
Easement	The permanent or temporary right to use the property of another for a specific purpose -- e.g. for access over the property, putting up utility lines, etc.
Egress	The right to leave or exit over a piece of property
Eminent domain	The right of the government to take over private property for public purposes upon payment of its fair market value
Encroachment	A physical, illegal intrusion onto another's adjoining property; examples are a structure, driveway, fence
Encumbrance	Any claim against the fee simple title to a property, such as a lien, mortgage, or easement
Equal Credit Opportunity Act (ECOA)	A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs
Equity	The owner's financial interest in a property, over and above any indebtedness for that property; or the difference between the fair market value of the property, and the amount still owed on its mortgage
Equity Sharing	A form of joint ownership between an owner/occupant and an owner/investor, whereby the owner/investor receives depreciation deductions as his portion of interest in the property, and the owner/occupant receives some of the tax write-offs for interest and taxes, as well as part of his monthly payment being applied against his rent. If the property were sold, the co-owners would also divide the profit
Escheat	Property that reverts to state ownership when an individual dies without a will and without heirs
Escrow	A deed, contract, or something of value deposited with a disinterested third party, to be delivered upon the performance of certain conditions by the parties involved; e.g., an attorney or escrow agent taking custody of funds and documents upon the closing of a sale of real estate
Escrow account	An account established by an escrow agent to hold funds for the agent's principal until the consummation of the transaction
Escrow instructions	A document that outlines the duties of the escrow agent and the obligations of the parties involved in an escrow transaction
Escrow payment; also "impounds" or "reserves" in some states	The portion of a mortgagor's monthly payment that is retained by the escrow agent to cover the costs of taxes, hazard or mortgage insurance, lease payments, and other costs incurred in the course of the transaction
Estate	An individual's possessions and property, relevant particularly at the time of death
Eviction	The legally directed removal of an occupant from real property
Exclusive listing, or Exclusive agency listing, or Exclusive right-to-sell listing	A written contract giving a licensed real estate broker the exclusive right to sell a property for a designated period of time, on terms stated by the owner, for a fee, while also reserving the owner's right to sell the property himself, without paying anyone a commission
Executor	A person named in a will, or in the absence of such designation, appointed by the probate court, to administer an estate and carry out its terms
Extended Mortgage	A mortgage in which the due date of payment is extended, and is usually charged at a higher interest rate than the original mortgage

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

	About You
* Your Name:
* Your Email Address:
Your Street Address:
City:
State/Province:
Country:
Zip/Postal Code:
Phone:
	Additional Info
Ask Your Question Here!
Send Latest Listings:
Send Latest News:

*Please note that fields marked with an asterisk are required.

Quick Response Guarantee > Your Privacy Is Guaranteed > Free & Without Obligation >

Q  What famous building receives a fresh coat of 300 tons of reddish-green paint every seven years? A  The Eiffel Tower in Paris, France. See More Real Estate Trivia >

The Coveny Team RE/MAX Prestige 410 Robert Parker Coffin Road Long Grove, IL. 60047 Phone: 847-634-6300 Fax: 847-634-6266 website: www.covenyhomes.com efax: 847-665-0403 Email: susan@covenyhomes.com The Susan Coveny Team assists their clients by focusing on these seven priorites: 1. Providing Quality Service 2. Providing Professional Advice 3. Delivering a Successful Market Plan through Innovation 4. Addressing the Customer's Individual Needs 5. Team Work 6. Meaningful Communication 7. Continual Professionalism Legal Disclaimer - No Liability: RE/MAX Prestige, Susan Coveny, Coveny Team, its agents or employees shall not be held liable to anyone for any errors, omissions or inaccuracies under any circumstances. The entire risk for utilizing the information contained on this website or linked to this website, rests solely with the users of this website. The information is subject to inspection and verification by all parties relying on it. No liability for its accuracy/inaccuracy, errors, or omissions is assumed by the sellers or their agents. These listings may be withdrawn or modified without notice at any time. Information Not Warranted or Guaranteed: The official Susan Coveny and Coveny Team website and all pages linked to it or from it, are PROVIDED ON AN "AS IS, AS AVAILABLE" BASIS. Coveny Homes - Susan Coveny MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTA BILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO ANY INFORMATION OR USE OF INFORMATION CONTAINED IN THE WEBSITE, OR LINKED FROM IT OR TO IT. www.CovenyHomes.com is brought to you by The Coveny Team NUMBER1EXPERT™ in real estate for Long Grove, Buffalo Grove, Vernon Hills and Barrington, Illinois Read The Coveny Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.