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Real Estate Glossary > E words > Flashcards

E words Flashcards

1
Q

EarnestMoneyDeposit

A

Adepositthatabuyermakesatthetimeofsubmittinganofferto demonstratethetrueintenttopurchase;alsocalledbinder,goodfaithdeposit,andescrowdeposit.

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2
Q

Easement

A

Aright,privilegeorinterestlimitedtoaspecificpurposewhichonepartyhasinthelandof another.

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3
Q

EasementAppurtenance

A

Arightofuseintheadjoininglandofanotherthatmoveswiththetitleto thepropertybenefitingfromtheeasement.

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4
Q

EasementbyNecessity

A

Existswhenalandownerhasnoaccesstoroadsandislandlocked.

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5
Q

EasementbyPrescription

A

Obtainedbyuseofthelandofanotherforthelegallyprescribedlengthof time.

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6
Q

EasementbyVoluntaryGrant

A

Agrantorconveystherighttousethegrantor’slandtoagranteefor thepurposeofingressandegress.

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7
Q

EasementinGross

A

Arightofuseinthelandofanotherwithouttherequirementthattheholderofthe rightownadjoiningland.

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8
Q

EconomicIndex

A

Apieceofstatisticaldatathatisusedtoassessthehealthorconditionoftheoverall economy.

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9
Q

EconomicLife

A

Theamountofyearsabuildingcanproduceanincome.

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10
Q

EconomicObsolescence

A

Alossinvalueduetofactorsawayfromthesubjectpropertybutadversely affectingthevalueofthesubjectproperty.

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11
Q

EffectiveAge

A

Theconditionalageofabuilding.

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12
Q

EffectiveGrossIncome

A

Theamountofincomeproducedbyapieceofproperty,plusmiscellaneous income,lessvacancycostsandcollectionlosses.

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13
Q

Emblements

A

Thecropsandotherannualplantingsconsideredtobepersonalpropertyofthe cultivator.

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14
Q

EminentDomain

A

Therightofthegovernmenttoacquirepropertyfornecessarypublicorquasi‐public usebycondition;theownermustbefairlycompensatedandtherightoftheprivatecitizentogetpaidis spelledoutinthe5thAmendmentoftheUnitedStateConstitution.

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15
Q

Encroachment

A

Anunlawfulintrusionontoanother’sadjacentpropertybyimprovementstoreal property(ex:aswimmingpoolbuiltacrossapropertyline).

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16
Q

Encumbrance

A

Anycharge,claim,right,burden(otherwisecalledacloudontitle),and/orinterestin realpropertyotherthantheowners,includingbutnotlimitedto,anyrestrictionuponthetitletoreal property,affectingand/orlimitinganyinterestsoritsuse.

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17
Q

Enforceability

A

Theabilitytosuefortheenforcementofthecontract.

18
Q

EquitableRemedies

A

Remediesforthepurposeof‘fairnessandjustice’.

19
Q

Equity

A

Thevalueofanassetminusthedebt.

20
Q

Erosion

A

Theeatingawayofacoastlineorlandbytheactionofwater,ice,and/orwind,orwearing awayofasurfacebycorrosionortraffic.

21
Q

Escheat

A

ThereversionoftheStateofpropertyineventtheownerthereofabandonsitordies,without leavingawillandhasnodistributestowhomthepropertymaypassbylawfuldescent.

22
Q

Escrow

A

Anytransactionwhereinoneperson,forthepurposeofaffectingthesale,transfer, encumbering,orleasingofrealorpersonalpropertytoanotherperson,deliversanywritten instruments,money,orevidenceoftitletorealorpersonalproperty,orotherthingsofvaluetoathird person,tobeheldbysuchthirdpersonuntilthehappeningofaspecifiedevent.

23
Q

EscrowAgent

A

Theneutralthirdpartyholdingfundsorsomethingofvalueintrustforanotheror others.

24
Q

EscrowAgreement

A

Thearrangementbywhichonepartydepositsanassetwithathirdperson(called anescrowagent),whowillinturnmakedeliverytoanotherpartyifandwhenthespecifiedconditions ofthecontracthavebeenmet.

25
Q

Estate

A

Thedegree,quantity,nature,andextentofinterestthatapersonhasinrealandpersonal property(includeseverythingoneowns).

26
Q

EstateatSufferance

A

Anestatearisingwhenthetenantwrongfullyholdsoveraftertheexpirationof theterm.Thelandlordhasthechoiceofevictingthetenantasatrespasseroracceptingsuchtenantfor asimilartermundertheconditionsofthetenant’spreviousholding.Alsocalledatenancyatsufferance.

27
Q

EstateatWill

A

Aleaseholdestatethatmaybeterminatedatthedesireofeitherparty.

28
Q

EstateforYears

A

Aninterestinlandbyvirtueofacontractforthepossessionofthemforadefiniteand limitedperiodoftime.Maybeforayearorless.Aleasemaybesaidtobeanestateforyears.

29
Q

EstateinRemainder

A

Anestatewhichvestsaftertheterminationofthepriorestate.

30
Q

EstateinReversion

A

Propertyorestateownershipthatrevertsbacktothegrantorafteratemporary ownershipperiod.

31
Q

Estoppel

A

Alegaldoctrinethatpreventsapersonfromassertingrightsormakingclaimsthatare contrarytohis/herspreviousactsorconducts.

32
Q

Ethics

A

Moralprinciplesthatgovernaperson’sorgroup’sbehavior.

33
Q

Eviction

A

Alegalproceedingbyalessorlandlordtorecoverpossessionofrealproperty.

34
Q

ExclusiveAgencyAgreement

A

Alistinggiventoonlyonebroker(exclusive)whoisentitledtothe commissionifthebrokeroranyagentofthelistingbrokereffectsasalebutimposesnocommission obligationontheownerwhosellsthepropertytoapersonwhowasnotinterestedinthepropertyby effortsofthelistingbrokeroranagentofthelistingbroker.

35
Q

ExclusiveAgreement(ExclusiveRighttoSellListingAgreement)

A

Alistinggiventoonlyonebrokerwho isentitledtothecommissionifanyonesellsthepropertyduringthetermofthelistingcontract.

36
Q

ExecutedContract

A

Acontractinwhichbothpartieshavecompletelyperformedtheircontractual obligations.

37
Q

Executor

A

Apersonnamedinawilltocarryoutitsprovisionsastothedispositionoftheestateofa deceasedperson.

38
Q

ExecutoryContract

A

Acontractinwhichoneorbothpartieshavenotyetcompletedperformanceof theirobligations.

39
Q

ExpressAgency

A

Anagencyrelationshipcreatedbyoralorwrittenagreementbetweenprincipaland theagent.

40
Q

ExpressContract

A

Acontractthathasbeenputintowords,eitherspokenorwritten.

41
Q

ExpressEasement

A

Aneasementcreatedbyadeedorbyawill.

42
Q

Eviction

A

Alegalproceedingbyalessorlandlordtorecoverpossessionofrealproperty.

Real Estate Glossary (23 decks)

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