| E Terms
: |
Easement
|
A right of use over the property of another created by grant,
reservation, agreement, prescription or necessary implication. |
Economic Rent
|
The market rental value of a property at a given point in
time, even though the actual rent may be different. |
Effective Gross Income
|
Term used for an income-producing property, derived from
the potential gross income, less a vacancy factor and a collection
loss amount. |
Effective Rent
|
The actual rental rate to be achieved by the landlord after
deducting the value of concessions from the base rental rate
paid by a tenant, usually expressed as an average rate over
the term of the lease. |
Encroachment
|
Part of a house or establishment illegally overhanging the
street or a neighbour's property. |
Encumbrance
|
An impediment to the use or transfer of the property in
the form of an interest or right in the property, e.g. easement,
mortgage or caveat. |
Energy Efficient Mortgage
|
An FHA program that helps homebuyers save money on utility
bills by enabling them to finance the cost of adding energy
efficiency features to a new or existing home as part of the
home purchase |
Equity
|
The amount of an asset actually owned. Equity is the difference
between the market value of the property and the amount still
owed on its mortgage. |
Establishment Fee
|
A fee charged by a Lender to set up a loan. |
Estate
|
The total of all the real estate and personal property owned
by an individual at the time of death. |
Eviction
|
The lawful expulsion of an occupant or tenant from real
property. |
Exclusive Authority
|
A written contract that gives one real estate agent the
exclusive right to sell a property in a specified time period. |
Executor
|
A person named in a will to administer an estate. Executrix
is the feminine form. |
Expense Ratio
|
Expense Ratio |