Tuesday, May 14, 2024, 2:38 AM
Site: America's Real Estate Academy, Inc.
Course: America's Real Estate Academy, Inc. (AREA)
Glossary: Real Estate Glossary
E
encapsulationis another way of asbestos control; sealing off of disintegrating asbestos. |
encroachmentis the unauthorized extension of one property onto another property’s land or into its air space. |
encumbranceis a right or interest in real estate held by someone other than the owner (or title holder). It is an impediment to free and clear title – although not all encumbrances will adversely affect the transfer of real estate. Encumbrances are divided into two categories, monetary and non-monetary. Monetary encumbrances (liens) affect the title and may affect the transfer of ownership; whereas non-monetary encumbrances affect the condition of the property and are not likely to interfere with a transfer of title – although some could. |
entrepreneurial profitis the reward or incentive for taking the risk associated with the construction of the improvements. |
environmental impact statement (EIS)A report that includes a description of a development project with emphasis on the environmental setting and a description of the impact the project could have on the environment during the whole process of the project. |
environmental site assessments (ESA)investigation by an environmental specialists to decide if there are any environmental hazards that could affect the use of a property or impose future financial liability. ESA assists the seller in making disclosures and the buyer in making an informed offer. |
Equal Credit Opportunity Act (ECOA)federal law that prohibits discrimination in the extension of credit because of race, color, religion, national origin, sex, age or marital status. |
equalization factorused to achieve uniformity when it is necessary to correct inequalities in statewide tax assessments. |
equitable right of redemptionThe right of a defaulted property owner to recover the property prior to its sale by paying the appropriate fees and charges. |
equitable titlean ownership interest pending payment of the debt. |