Early occupancy - The condition in which buyers can occupy the property before the sale is completed.

Earnest money - Money a buyer gives with an offer to purchase a property. Also called a deposit.

Earthquake insurance - A policy that provides coverage against damage to a home from an earthquake.

Easement in gross - The limited right of one person to use another's land (servient estate), which right is not created for the benefit of any land owned by the owner of the easement; that is, there is no dominant estate, as the easement attaches personally to the owner, not to the land.

Eaves - The projecting overhang at the lower edge of a roof.

Effective age - The age of a structure estimated by its condition rather than it’s actual age.

Effective gross income - Additional income that a lender considers when assessing the loan application of a potential borrower.

Electric service panel - A panel that transfers power from the utility line into a house to be distributed through fuses or circuit breakers.

Elevations - The exterior view of a home design that shows the position of the house relative to the grade of the land.

Ell  - An extension or wing of a house that is at right angles to the main structure.

Emblements - Growing crops, such as rice and taro, which are produced annually through labor and industry.

Eminent domain - The right of government, both state and federal, to take private property for a necessary public use, with just compensation paid to the owner.

Employer-assisted housing - Programs, which help employees, purchase homes through special plans developed with lenders.

Empty nesters - Potential buyers who have raised their families and want to move into a smaller home.

End loan - The conversion from a construction loan to permanent financing a condominium buyer secures after all units in a project have been completed.

Endorser - A person who signs over ownership of property to another party.

English Tudor style  - An architectural design that features stone or brick exterior walls and exposed beams.

Entirety, tenancy by - A form of joint ownership of property between husband and wife with the right of survivorship.

Environmental impact statement - A report which includes a detailed description of a proposed development project with emphasis on the existing environment setting, viewed from both a local and regional perspective, and a discussion of the probable impact of the project on the environment during all phases.

Environmentally friendly home construction - A method of construction that utilizes recycled materials.

Equal credit opportunity act - A federal law that prohibits a lender or other creditor from refusing to grant credit based on the applicant's sex, marital status, race, religion, national origin or age. The law also prohibits a creditor from refusing to grant credit because the applicant receives public assistance.

Equifax credit information services, inc., - Is one of the "Big Three" credit reporting bureaus that operate nationwide. Address: P.O. Box 740249, Atlanta, GA 30374.

Escheat - The reversion of property to the state when a decedent dies intestate and there are no heirs capable of inheriting, or when the property is abandoned.

Escrow account - An account that a lender or mortgage servicer establishes to hold funds for the payment of expenses such as homeowners insurance and property taxes. Also known as an impound account.

Escrow agent - A neutral third party who ensures that all conditions of a real estate transaction are met.

Escrow analysis - A lender's periodic examination of an escrow account to determine if the lender is withholding enough funds from a borrower's monthly mortgage payment to pay for expenses such as property taxes and insurance.

Escrow closing - Escrow closes when all conditions of a real estate transaction are met and the title of the property is transferred to the buyer.

Escrow company - Firms that act as neutral third parties to ensure that all conditions that the buyer, seller and lender establish in a real estate transaction are met.

Escrow payment - Funds that a mortgage servicer withdraws from a borrower's escrow account to pay property taxes and insurance.

Estate - The total assets of a person, including real property, at the time of death.

Estoppel - A legal doctrine by which a person is prevented from asserting rights or facts, which are inconsistent with a previous position or representation, he had made by his act, conduct or silence.

Ethics - A system of moral principles, rules and standards of conduct.

Examination of title - An inspection by a title company of public records and other documents to determine the chain of ownership of a property.

Excavation  - The process of clearing trees, removing topsoil and grading land before the foundation is laid.

Exchange - A transaction in which all or part of the consideration for the purchase of real property is the transfer of property of a like kind.

Exclusive agency - A written listing agreement giving one agent the right to sell property for a specified time, but reserving to the owner the right to sell the property himself without payment of any commission.

Executive - The act of making a document legally valid, such as formalizing a contract by signing, or acknowledging and delivering a deed.

Executory Contract - A contract in which one or both of the parties has not yet performed.

Exhaust fan - Ventilating devices that remove water vapor, undesired smells or smoke.

Extender clause - A "carry over" clause (referred to as a safety clause) contained in a listing which provides that a broker is still entitled to a commission for a set of period of time after the listing has expired if the property is sold to a former prospect of the broker.

Extension - An agreement to continue the period of performance beyond the specified period.