Earnest Money Deposit (EMD): A down payment or portion of the payment a buyer makes with an offer to demonstrate the good faith of their intention to buy. Usually held by the escrow agent.
Easement: A right of way giving persons other than the owner access to or over a property.
Egress: The right of a person to leave a property, usually used in terms of an easement.
Ejectment: An eviction; a legal action taken to repossess land by its owner. A legal action to remove an unwelcome trespasser or tenant from owned property.
Eminent Domain: The right of the government to oblige property owners to forfeit their property, or a portion thereof as in an easement, in exchange for fair market value in order to use the property for public purposes.
Encroachment: An instance where a piece of real property extends past its own property lines and onto another’s property.
Encumbrance: A servitude, claim, right or lien made on a property title that may be financial or non-financial.
Endorsement: An alteration made to the title insurance policy that affects the existing coverage at the request of the insured.
Escrow: As it pertains to title insurance, an arrangement whereby an impartial third party holds the property title, paperwork, funding and a series of instructions for which that party is responsible until all the conditions of the transaction have been met.
Escrow Agreement: A written agreement between the escrow agent and either the buyer and seller or both, setting forth the conditions as to how the objects being placed in escrow are to be administered.
Escrow Account: An Escrow account is an account set up to handle funds for bill payment of annual home expenses such as homeowners insurance and property insurance. The costs are divided into monthly payments, and the bills are then paid when they are due.
Escrow Account for Real Estate Taxes and Insurance: An account that is set up for monthly payments of real estate taxes and property insurance by a borrower.
Escrow Money: See Earnest Money.
Escrow Fee: The amount the Escrow Company charges for all the miscellaneous activities it must conduct to handle the transaction, such as notary fees, issuance of checks, etc.
Escrow Shortage: Is when there is not enough money in the Escrow account to cover the expenses. It must either be paid in a lump sum immediately or the monthly payments must be raised to compensate the difference.
E-Signature: With modern technology comes advances in real estate transactions. Many real estate offices are now paperless based and use e-signature platforms to send documents to and from parties for approvals. There are numerous e-signature platforms: a few common ones are Dotloop, Authesign, Docusign, Transaction Desk. Some brokerages might have their own developed systems.
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.
Examination: In reference to the title industry, it is the studying of all documents to determine the condition of a title.
Examiner: More accurately called Title Examiner, it is the one who conducts the examination.
Exchange / Service Account: An expense account that a brokerage uses to administer marketing monies.
Exclusions: Personal property or fixtures that are not to be included in the contract for purchase.
Expired (listing): A property that has passed the terms for its listing agreement.