Terms with Tag Legal
- Encroachment — Definition,
- An improvement, such as a fence, that illegally extends onto another property or impedes the neighbour's use of that property.
- Encumbrance — Definition,
- Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
- Enduring Power of Attorney (EPA) — Acronym,
- Environmental Impact Statement (EIS) — Acronym,
- A government-required evaluation of how construction will affect the environment surrounding a site.
- Environmental Impact Statement/Environmental Impact Report (EIS/EIR) — Acronym,
- Equity — Definition,
- Ownership in an asset.
- The value of a property minus outstanding mortgage debt and other liens.
- Errors and Omissions Excepted (E&OE) — Acronym, Important,
- Escrow Agent — Definition,
- A neutral third party who holds the documents and money in a real-estate transfer until all conditions are met.
- Estate — Definition,
- The ownership interest of an individual in real property.
- The total sum of all the real property and personal property owned by an individual at time of death.
- Eviction — Definition,
- The act of kicking someone out of a property, usually for violating terms of a lease.
- Examination of Title — Definition,
- A review of public records and title abstracts to determine the chain of ownership of a property.
- Exclusive Listing — Definition,
- A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.
- Extended Warranty — Definition,
- A service contract that covers certain vehicle repairs or problems after the manufacturer's or dealer's warranty expires. Extended warranties are sold by vehicle manufacturers, dealers, and independent companies. With a new vehicle, the extended warranty must be purchased by the end of the first year of ownership.
- Fee Simple — Definition,
- Outright ownership of real estate, free of any liens or other claims against title.
- Fee Simple Defeasible — Definition,
- When a person has outright ownership of real estate (free of any liens or other claims against title), but the use of the property is restricted.
- Fiduciary — Definition,
- An individual, company, or association that manages assets for another party. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy, and those responsible for managing the finances of a minor.
- Fiduciary Duty — Definition,
- A requirement that someone in a position of trust, such as a banker, real-estate agent, or title agent, must act in good faith and trust on behalf of a client.
- Filed by Electronic Means (FBEM) — Acronym,
- Filing Extension — Definition,
- An additional amount of time to file your return. A filing extension, however, does not give you more time to pay your taxes.
- Final Generic Environmental Impact Statement (FGEIS) — Acronym,
- Final Supplemental Environmental Impact Statement (FSEIS) — Acronym,
- Financial Action Task Force on Money Laundering (FATF) — Company,
- Financial Power of Attorney (FPOA) — Acronym,
- Financial Responsibility Laws — Definition,
- A type of law that requires an entity to be capable of paying for damages in the event of a potential claim.
- First Lien — Definition,
- Primary claim by the lender for satisfaction of outstanding debt. A first mortgage creates a first lien.
- First Mortgage — Definition, Important,
- A mortgage that is the primary lien against a property.
- Forbearance — Definition,
- Delaying foreclosure, usually because the borrower has arranged to pay the amount in arrears.
- Foreclosure — Definition,
- The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.
- Forfeiture — Definition,
- Loss of property because of violation of law or contract.
- Franchise — Definition,
- The right to sell products or services under a corporate name or trade mark (established by someone else). This right is usually purchased for cash in addition to a royalty fee on, or a percentage of, all sales.
5.
Encroachment -
Examination of Title
Examination of Title
