The Real Estate
Encyclopedia: A-E

In real estate law, Escheat is the process by which property reverts to the state when an individual dies without a will and without legal heirs. In such cases, there is no person legally entitled to inherit the property, so ownership transfers to the government by...

In real estate leasing, an Escalation Clause is a provision in a lease that allows for an increase in rent at a future date. The clause specifies when and how the rent will increase, such as by a fixed amount, a percentage, or based on changes in operating expenses or...

In real estate finance, Escalation refers to a lender’s reserved right to increase loan payments, the interest rate, or both if a specified event occurs. These events are defined in the loan agreement and may include changes in market interest rates, increases in...

In real estate, Erosion refers to the gradual wearing away or loss of land caused by natural forces such as water, wind, or glacial ice. This process can occur along coastlines, riverbanks, lakeshores, or open land exposed to the elements. Erosion can reduce the size,...

In real estate law, Equity of Redemption is the right of a borrower to reclaim property that is in foreclosure by paying the full amount owed, including principal, interest, and allowable costs. This right exists during the foreclosure process and, in some...

In real estate finance, an Equity Loan is a loan that is secured by the borrower’s equity in a property. The amount that can be borrowed is based on the difference between the property’s current market value and the outstanding balances of any existing loans secured...

In real estate, Equity is the value of an owner’s financial interest in a property, calculated as the property’s current market value minus the total of all outstanding loan balances secured by the property. It represents the portion of the property that the owner...

In real estate, Equitable Ownership refers to the rights of a person who has a beneficial interest in a property but does not yet hold legal title. This commonly occurs when a buyer, such as a vendee under a land sales contract, has the right to obtain legal title...

In real estate and lending, Equal Credit Opportunity refers to the protections established by the federal Equal Credit Opportunity Act, which prohibits lenders from discriminating against credit applicants based on certain personal characteristics. These include sex,...

In real estate and financial transactions, Endorsement is the act of signing one’s name on the back of a check or promissory note to transfer or guarantee the instrument. An endorsement may be made with or without additional wording that limits or clarifies the...