Dictionary

Enforceable Contract

Definition: a legally binding contract that is recognized by the law. Pronunciation:  \in-ˈfȯr-sə-bəl\ \ˈkän-ˌtrakt\ Used in a Sentence:   We had an enforceable contract with the buyer for the purchase of our property....

Encumbrance Clause

Definition:   A provision in a deed that guarantees there are no encumbrances against the property except those specifically disclosed. Pronunciation: \in-ˈkəm-brən(t)s\ \ˈklȯz\ Used in a Sentence:   The encumbrance clause stated the there...

Encumbrance

Definition:   Any lien, claim, or liability attached to or binding on real property that may lessen the value or affect the transfer of title. Pronunciation:  \in-ˈkəm-brən(t)s\ Used in a Sentence:   The...

Encroachment

Definition:   The unauthorized infringement or intrusion of an improvement or other real property onto another’s property. Pronunciation:   \in-ˈkrōch-mənt\ Used in a Sentence:   It was found that the fence was erected...

Eminent Domain

Definition:  The right of government (both state and federal), public corporations, public utilities and public service corporations to take private property with just compensation for a necessary public use. Pronunciation:  \ˈe-mə-nənt\...

Effective Gross Income (egi)

Definition: The anticipated income stemming from the estimated potential gross income from a rental property,  less deductions for vacancy and collection losses. Pronunciation: \i-ˈfek-tiv, e-, ē-, ə-\ Used in a Sentence:  After...