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Glossary Of Real Estate Terms
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Glossary E

Easement: 
The right acquired for access to or over another person's property for a specific purpose such as driveway or public utilities.

Encumbrance: 
A registered claim for debt against a property, such as a mortgage.

Eminent Domain: 
The right of a government body to acquire private property for public use through a legal action called condemnation or expropriation in which the appropriate body determines the use is public use and decides the price or compensation to be paid to the owner.

Equitable Mortgage:
A mortgage of the equity of redemption that can again be mortgaged.

Equity:
The difference between the value of the property and the amount owing on the mortgage.

Escrow:
A written agreement between two or more parties providing that certain instruments relating to property be placed with a third party to be delivered to a designated person upon fulfillment or performance of some act or condition.
Estoppel:
A legal term referring to a series of legal and equitable doctrines that preclude a person from denying or asserting anything to the contrary of that which has, in contemplation of law, been established as the truth, either by the acts of judicial or legislative officers, or by his own deed, acts, or representations, either express or implied.

Estoppel Certificate:
A certificate that outlines a condominium corporation`s financial and legal state. This certificate is also called a certificate of status.



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