Dictionary

Effective Age

Definition: The apparent age of a building based on observed condition rather than chronological age. Pronunciation: \i-ˈfek-tiv, e-, ē-, ə-\ Used in a Sentence:  Even though the building was 15 years...

Effect A Sale

Definition: A stipulation in a listing contract requiring the broker to obtain a signed contract from a ready, willing and able buyer on the terms stated. Pronunciation: \i-ˈfekt, e-, ē-, ə-\ Used...

Economic Life

Definition: The period of time a property may be expected to be profitable or productive; useful life. Pronunciation:  \ˌe-kə-ˈnä-mik\ Used in a Sentence:  Based on an analysis, the economic life of the...

Economic Base Study

Definition: A term to describe a means of measuring the economic activity of a community.  The ways in which people in a community make their livings. Pronunciation:  \ˌe-kə-ˈnä-mik\ Used in a Sentence: ...

Easement In Gross

Definition: A type of easement that benefits an individual or business entity and is not related to a specific adjacent parcel, for example, a utility easement. Pronunciation:  \ˈēz-mənt\ \ˈgrōs\ Used in a Sentence: ...

Easement By Necessity

Definition: An easement created by a court of law in cases where justice and necessity dictate it, especially in a classic landlocked situation. Pronunciation:  \ˈēz-mənt\ \ni-ˈse-sə-tē, -ˈses-tē\ Used in a Sentence:   When the...