Real Estate Vocabulary - E

 

• Earnest money deposit - A deposit made by the potential home buyer to show that he or she is serious about buying the house.  

• Easement - A right of way giving persons other than the owner access to or over a property.

• Encroachment - An improvement that intrudes illegally on another's property. 

• Equal Credit Opportunity Act (ECOA) - A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs. 

• Estate - The ownership interest of an individual in real property. The sum total of all the real property and personal property owned by an individual at time of death. 

• Eviction - The lawful expulsion of an occupant from real property. 

• Executor - A person named in a will to administer an estate. The court will appoint an administrator if no executor is named. "Executrix" is the feminine form.

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Source: RealEstateABC