Dictionary

Exempt

Definition:   Property that has been declared to be excluded from taxation or claim by others. Pronunciation:  \ig-ˈzem(p)t\ Used in a Sentence:   The church is exempt from having to pay taxes on...

Executory Contract

Definition:  A contract in which one or both parties have not yet performed some condition. Pronunciation: \ig-ˈze-k(y)ə-ˌtȯr-ē\ \ˈkän-ˌtrakt\ Used in a Sentence:   It was considered an executory contract because the buyer had...

Executed Contract

Definition:   A contract that has been performed fully. Pronunciation:   \ˈek-si-ˌkyüt-ed\ \ˈkän-ˌtrakt\ Used in a Sentence:   Once everyone had signed the document it became an executed contract.  

Exclusive-right-of-sale Listing

Definition:  A written agreement given to one real estate broker as the sole agent for the sale of an owner’s property, with the commission going to that broker regardless of...

Exclusive-agency Listing

Definition:   A written listing agreement giving a sole agent the right to sell a property for a specified time. Pronunciation:   \iks-ˈklü-siv, -ziv\ \ˈā-jən(t)-sē\ Used in a Sentence:   The seller signed an...

Exclusion

Definition:  The right of an owner to keep others from tresspassing by entering or using the property without permission. Pronunciation: \iks-ˈklü-zhən\ Used in a Sentence:   The right of excusion allowed the farmer...