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Earnest Money A down payment made by a buyer as evidence of good faith. It is non-refundable.

Easement A right that may be exercised by the public, or individuals on, over or through the property of others.

Eminent Domain A right of the government to acquire a property for public use; the owner of the property would be fairly compensated.

Encumbrance A claim or lien that complicates title process.

Equitable Interest or Equity "Equitable" or "equity" refer to the difference between the value of something, such as a property, and whatever loans are still owing on that value. In other words, equity is the amount that someone actually owns. For instance, if you own a property that is worth $200,000 and you have a mortgage of $150,000 on the property, then your equity or equitable interest in the property is $50,000 ($200,000 - $150,000). Someone can have equitable interest on a property with a very little amount as well. If for the same example your mortgage is $195,000 you would still have equitable interest in the property worth $5,000.

Equity The difference between the value of a property and the amount owned on it. This can also be called the owner's interest.

Equity (in mortgage financing) The difference between a property's market value or purchase price and the debt incurred to purchase the property.

Escrow A written agreement between two or more parties stipulating that certain instruments pertaining to a property be placed with a third party and that the third party is to deliver such documents to a particular person on the fulfillment of certain requirements (that the parties agreed to beforehand).


Extent of an owner's interest in property.

Estate for years Estate limited to a term of years a "lease" after term is over, the property goes back to the former owner.