Glossary of terms used on this site
There are 149 entries in this glossary.E
| Term | Definition |
|---|---|
| Earnest Money Deposit |
Down payment made by a purchaser of real estate as evidence of good faith; a deposit or partial payment. |
| Easement |
A right or interest in the use of the land of another which entitles the holder to some use, privilege or benefit, such as to place pole lines, pipe lines or roads thereon. |
| Eminent Domain |
The right of a government to take privately owned property for public purposes under condemnation proceedings upon payment of its reasonable value. |
| Encroachment |
The presence of an improvement such as a building, a wall, a fence or other fixture, which overlaps onto the property of an adjoining owner. |
| Escrow |
Refers to a neutral third party that follows the instructions of both the buyer and seller to handle all the paperwork of settlement or "closing." Escrow may also refer to an account held by the lender into which the homebuyer pays money for tax or insurance payments. |