Real Estate Glossary
Browse the glossary using this index
Special | 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 | ALL
E |
|---|
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. | |
equitythe interest or value that an owner has in property over and above any loan or indebtedness. | |
erosionThe gradual wearing away of land by water, wind, and general weather conditions; the diminishing of property by the elements | |
escheatis the power of government to take property when the owner of the property abandons it or dies with no heirs and no will. This is one of the four powers of government which institutes public limitations on real property. The four powers are: Police power, Eminent domain, Taxation, and Escheat, remembered by the acronym PETE. | |
escrow contracta fund reserved to meet future real estate taxes and property insurance premiums. | |
estatein reference to rights in real estate, the word estate refers to the nature, quality and degree of interest that a person has in real estate. | |