Real Estate Glossary
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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 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. | |