David Saks: David Saks' Glossary of Real Estate & Mortgage Terms : The E's

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David Saks' Glossary of Real Estate & Mortgage Terms : The E's

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David Saks'

Glossary of Real Estate and Mortgage Terms


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Easement

A right created by grant, reservation, agreement, prescription, or necessary implication, which one has in the land of another.

Eminent Domain

A Government right to acquire private property for public use by condemnation, and the payment of just compensation.

Encroachment

Construction onto the property of another, wall, fence, etc.

Encumbrance

A claim, line charge, attached to and binding real property.

Equity

The difference between the market value of the property and the homeowners mortgage debt.

Escrow

Delivery of a deed by a grantor to a third party for delivery to the grantee upon the happening of a contingent event.

Escrow Payment

That portion of a mortgagor's monthly payment held in trust by the lender to pay for taxes mortgage insurance, hazard insurance, lease payments, and other items as they become due, also know as "impounds" in some states.

Escrow Reimbursement

An assumptions or wrap loan transactions, the buyer reimburses the seller for the current balance of his escrow (or impounded) funds.



David Saks



Time&Temp Memphis

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Comment balloon 4 commentsDavid Saks • July 21 2008 08:26PM

Comments

I love that floating web address.  How did you do that?

Posted by Paula D. Young (Prestige Realty West) over 11 years ago

Is there a web site for all the words?

Thanks in advance.

Bill

Posted by Bill C. Merrell, Ph.D. - Merrell Institue (Merrell Institute ~ Appraisal Education Network) over 11 years ago

Seek and ye shall find, Paula. A magician never reveals his secrets. :-) Thanks for your comment.

Posted by David Saks ((retired)) over 11 years ago

Hello, Bill. As requested, click here. Hope you can use it. Hope your having a fine day, and thanks for stopping by.

Posted by David Saks ((retired)) over 11 years ago

This blog does not allow anonymous comments