Terms E Flashcards
Down payment made by a purchaser of real estate as evidence of good faith.
Earnest Money Deposit
A right that may be exercised by the public or individuals on, over or through the lands of others.
Easement
An easement that benefits the dominant estate and “runs with the land”. In other words, an easement appurtenant generally transfers automatically when the dominant estate is transferred.
Easement Appurtenant
An easement created by the government or government agency that has exercised its right under eminent domain.
Easement by Condemnation
The creation of an easement by one party expressly transferring the easement to another party.
Easement by Grant
An easement that is not created by express statements between the parties; but as result of surrounding circumstances that dictate that an easement must have been intended by the parties.
Easement by Implication
Parcels without access to a public way may have an easement of access over adjacent land if crossing that land is absolutely necessary to reach the landlocked parcel and there has been some original intent to provide the lot with access.
Easement by Necessity
Implied easements granted after the dominant estate has used the property in a hostile, continuous, and open manner for a statutorily prescribed number of years.
Easement by Prescription
A type of negative easement. This easement prevents an adjoining land owner from building any structure that would obstruct the passage of light or air form reaching the dominant land.
Easement for Light and Air
An easement that benefits an individual or a legal entity, rather than a dominant estate.
Easement in Gross
The section of the roof that overhangs the walls of a house.
Eave
A loss in value caused by influences external to the property such as increasing industrial activity near a residential neighborhood.
Economic Obsolescence
Created when electricity flows through a wire.
Electro-magnetic Field
A right of the government to acquire property for necessary public use by condemnation; the owner must be fairly compensated.
Eminent Domain
A person who is hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independent business.
Employee