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 by the potential home buyer to show that he or she is serious about buying the house.

Easement Rights

A right-of-way granted to a person or company authorizing access to or over the owner's land. An electric company obtaining a right-of-way across private property is a common example.

Encroachment

An obstruction, building, or part of a building that intrudes beyond a legal boundary onto neighboring private or public land, or a building extending beyond the building line.

Encumbrance

Anything that affects or limits the fee simple title to a property, such as mortgages, leases, easements, or restrictions.

Equity

The value of a homeowner's unencumbered interest in real estate. Equity is the difference between the fair market value of the property and the amount still owed on its mortgage.

Escrow

A neutral third party holds documents and money for a real estate transaction and ensures that all conditions of a sale are met. Also refers to a special account that a lender uses to hold a borrower's monthly payments on property taxes and insurance.

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