• Charles Mansour

THE 5 E'S OF TITLE--NOT REALLY!

Here are some common terms used in our business that begin with the letter E.

EARNEST MONEY - Advance payment of part of the purchase price to bind a contract for property.

EASEMENT - An interest in land owned by another that entitles its holder to a specific limited use, such as laying a sewer, putting up electric power lines, or crossing the property. ENCROACHMENT - A trespass or intrusion onto another's property, usually by a structure, wall or fence.

ENCUMBRANCE - A lien, liability or charge upon a parcel of land.

ESCROW - A procedure whereby a disinterested third party handles legal documents and funds on behalf of a seller and buyer, and delivers them upon performance by the parties. EXAMINATION OF TITLE - The investigation and interpretation of the record title to real property based on the title search or abstract.

EXCEPTION - In legal descriptions, that portion of land to be deleted or excluded. The term often is used in a different sense to mean an objection to title or encumbrance on title.



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