| EASEMENT
- A property interest which one person has in land owned by another
entitling the holder of the interest to limited use or enjoyment of the
other's land.
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.
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.
ENCROACHMENT
- An unauthorized invasion or intrusion of a fixture or other real
property wholly or partly upon another's property, thus reducing the size
and value of the invaded property.
ENCUMBRANCE
- Any claim, lien, charge or liability attached to and binding upon real
property which may lessen the value of the property but will not
necessarily prevent transfer of title.
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.
EQUITY -
That interest or value remaining in property after payment of all liens or
other charges on the property. A owner's equity is normally the monetary
interest over and above the mortgage indebtedness.
ERRORS AND OMISSIONS
INSURANCE - A form of insurance which covers liabilities for
errors, mistakes and negligence in the usual listing and selling
activities of a real estate office or escrow company.
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 -
The process by which money and/or documents are held by a disinterested
third person (a "stakeholder") until the satisfaction of the
terms and conditions of the escrow instructions (as prepared by the
parties to the escrow).
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.
EVICTION -
The legal process of removing a tenant from possession of the premises for
some breach of the lease contract.
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.
EXCLUSIVE LISTING
- A written listing of real property in which the seller agrees to appoint
only one broker to sell the property for a specified period of time. The
two types of exclusive listings are the exclusive agency and the exclusive
right to sell.
EXECUTIVE
- The act of making a document legally valid, such as formalizing a
contract by signing, or acknowledging and delivering a deed.
EXECUTOR -
A person appointed by a testator to carry out the directions and requests
in the last will and testament, and to dispose of property according to
the provisions of the will.
EXECUTORY CONTRACT
- A contract in which one or both of the parties has not yet performed.
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.
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Hernando
County Real Estate 
