E

EARNEST MONEY

The advance, by a purchaser, of a small part of the purchase price as evidence of good faith.

EASEMENT

A right held by a person to enjoy or make limited use of another's real property.

EASEMENT APPURTENANT

Easement created for the benefit of a parcel of land.

EASEMENT IN GROSS

Easement created for the benefit of an individual, rather than for a parcel of land, e.g., a public utility easement.

EASEMENT OF NECESSITY

An easement which is indispensable to the enjoyment of the dominant estate. An easement by necessity arises by operation of law when land conveyed is completely shut off from access to any road by land retained by grantor or by land of grantor and that of a stranger.

EGRESS

The right to a path or right-of-way over which a person may leave his own real estate.

EJECTMENT

Legal action by a landowner for return of his property and for damages when, for example, a defaulting buyer under a land sales contract refuses to relinquish possession.

ELEEMOSYNARY

Charitable or altruistic.

EMINENT DOMAIN

The right of a government to take privately owned property for public purposes under condemnation proceedings upon payment of its reasonable value. (See Condemnation." )

ENCROACHMENT

The extension of a structure from the real estate to which it belongs across a boundary line and onto adjoining property.

ENCUMBER

To burden the title to real property with a claim, right or lien held by someone other than the owner.

ENCUMBRANCE

A claim, right, or lien upon the title to real estate, held by someone other than the real estate owner.

ENDORSEMENT

The act of signing one's name on the back of a check or promissory note to transfer it to a third party. Also, a rider attached to an insurance policy to expand or limit coverage. Also spelled "Indorsement."

EQUIPMENT

Residual subcategory of goods.

EQUITABLE RIGHTS

Rights established primarily by court decisions based upon principles of fairness, honesty, justness and morality and not upon enacted law or common law.

EQUITY

A system of jurisprudence supplementing the common law and enacted law under which justice, impartiality, and fairness is applied in circumstances not covered by enacted or common law.

EQUITY IN PROPERTY

Amount of value of a person's interest above the total of liens or charges; the difference between the market value of the property and the amount of liens against it.

EQUITY OF REDEMPTION

The right of one who has mortgaged his property to redeem that property upon payment of the mortgage debt, and especially the right to redeem within a reasonable time after the due date.

EROSION

The wearing away of land surfaces by forces of nature such as winds and water.

ESCHEAT

The reversion of property to the state when an owner dies leaving no legal heirs, devisees or claimants.

ESCROW

A writing, deed, money, stock, or other property delivered by the grantor, promisor or obligor into the hands of a third person, to be held by the latter until the happening of a contingency or performance of a condition, and then by him delivered to the grantee, promisee or obligee. A system of document transfer in which a deed, bond, or funds is delivered to a third person to hold until all conditions in a contract are fulfilled; e.g. delivery of deed to escrow agent under installment land sale contract until full payment for land is made. Black's Law Dictionary-5th Ed.

ESCROW AGREEMENT

A written agreement usually made between buyer, seller and escrow agent, but sometimes only between one person and the escrow agent. It sets forth the conditions to be performed incident to the object deposited in escrow, and gives the escrow agent instructions with respect to the disposition of the object so deposited.

ESCROW HOLDER

The person who holds the papers and/or money during an escrow transaction.

ESTATE

(1) A sizable piece of rural land usually with a large house and other pretentious improvements. (2) The whole of one's possessions, especially all of the property, assets, debts, and liabilities left by a deceased or bankrupt person. (3) The nature and extent of an owner's rights in real estate.

ESTATE AT WILL

Occupation of lands and tenements by a tenant for an indefinite period, terminable by either party at any time.

ESTATE BY ENTIRETIES

An estate or interest in real estate predicated upon the legal fiction that a husband and wife are one person. A conveyance or devise to them (unless contrary intent is expressed) vests title in them as one person. Upon the death of either husband or wife, full title passes to the survivor.

ESTATE FOR LIFE

Estate held by a person to continue during his life or for the life of any other designated person.

ESTATE FOR YEARS

Interest in land based on a contract for possession of the land by a tenant or lessee for a definite or fixed period of time. (See Lease. )

ESTOPPEL

A legal restraint which stops or prevents a person from contradicting or reneging on his previous position or previous assertions or commitments.

ET AL

A latin term meaning "and others."

ET UX.

Abbreviation of Latin "et uxor" meaning "and wife." Joe Doaks et ux. means Joe Doaks and wife.

ET VIR

A Latin term meaning "and husband." Jane Allen et vir means Jane Allen and husband.

EVICTION

To expel or oust a person, by legal process, from possession of real estate.

EXAMINATION

In title industry parlance, to peruse and study the instruments and muniments incident to a chain of title and to determine their effect and condition in order to reach a conclusion as to the status of the title.

EXAMINER

Usually referred to, in title industry parlance, as title examiner. One who examines and determines the condition and status of real estate titles.

EXCEPTION

In title industry parlance, a provision in a title insurance binder or policy which excludes liability regarding a specified title defect or an outstanding lien or encumbrance.

EXCLUDED / EXEMPT

Vehicle is generally exempt from normal/mandatory odometer law for the following reasons:

Vehicle model year is 10 years or older.

EXCLUSIVE AGENCY

An arrangement with one agent that property shall be listed with him and not any other agent; does not prevent owner himself from selling without paying commission.

EXECUTE

(1) To create and make valid a real estate instrument. A deed is said to be executed when it is signed, sealed, witnessed and delivered. (2) To perform or do whatever is required.

EXECUTION

The act of executing. (See "Execute." ) (See "Writ of Execution." )

EXECUTOR

A person named in a will to carry out its provisions.

EXECUTORY

A contract or agreement not yet performed.

EXECUTRIX

Feminine of executor.

EXEMPTION

Immunity from a burden or obligation.