Real Estate Terms E

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

E-Pro - Certification from the National Association of Realtors signifying internet and computer knowledge.

Easement - The legal right of a non-owner of property to exert control over a portion or all of the property. A good example would be the right of the power company to have access to their power lines crossing your property.

Economic Depreciation - The decline in value of a property due to external forces, such as adverse development or blight.

Economic Life - The amount of time an income producing property is able to still make money for its owner.

Effective Age - Estimated age of a property based on its condition, rather than the actual time since it was built. A property's effective age can be greater than its actual age due to excessive wear and tear or lack of upkeep.

Electronic Lock Box - An electronic device housing the key to a property listed in the MLS.  Some MLS listings have electronic lockboxes.  Only realtors® will have access to these properties using a supra key.

Eminent Domain - The legal right of the government to take ownership of a property in order to convert it to public use.  Usually, the owner is paid fair market value for the property.

Encroachment - A building or other improvement on a neighoring property which invades or restricts another property's usage.

Encumbrance - A claim made against a property on its title. Mortgages, liens and easements are all encumbrances.

Energy Star - A government backed program helping businesses and individuals protect the environment through superior energy efficiency.