Earnest Money
An advance payment made while purchasing a property.
Easement
A right/privilege/interest given to a party to use a portion of the property owned by another person.
Effective Rent
The actual rent to be accrued by the landlord after deduction of concessions from the base rent paid by a tenant.
Encroachment
The intrusion into a property without authorized permission.
Encumbrance
Any right, interest or other claim against a land registered on title, which affects or limits the fee simple title to property. This can be in form of an easement, mortgage, trust deeds, unpaid taxes, liens etc.
Estoppel
A legal theory which states that a person is barred from asserting or denying a fact because of the person's previous acts or words.
Empty Nesters
Potential buyers who have raised their families and want to move into a smaller home.
Economic Life
The period over which a property is expected to yield a return on the investment, over and above the economic or ground rent.
Equity
The interest or value which an owner has, over and above the liens against it.
Escheat
It refers to the reverting of property to the state in the absence of heirs or other claimants.
Escrow
The deposit of instruments and funds involved in a real estate transaction with instructions to a third party to carry out the provisions of an agreement to ensure that all conditions of a sale are met.
Escrow also refers to a special account that a lender holds for keeping monthly installments from the borrower to cover property taxes and insurance.
Execute
To complete. To execute a deed is to make a deed, including especially the signing, sealing, and delivery; to execute a contract is to perform the contract, to follow it out to the end, to complete it.
Execution of Contract
To sign a contract.
Executor
A person named in a will/ testament to carry out its provisions as to the disposition of the estate of a deceased person.
Encumbrance Certificate
This is a certificate that says that the land is not party to any legal dispute.
Escalation Clause
A clause in a lease agreement that stipulates an increment, generally a pre-agreed percentage in the base rent at every renewal of the lease.