REAL ESTATE DICTIONARY

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EARNEST MONEY CONTRACT A contract in which the seller agrees to sell and the buyer agrees to buy

EASEMENT

A privilege or right which the owner of one parcel of land may have to use or enjoy the lands of another, i.e., a right-of-way

EASEMENT APPURTENANT

An easement which is attached to, accompanies, and passes with a greater interest; it has no existence apart from the superior interest. Also called PERTAINING EASEMENT.

EARNEST MONEY

The cash deposit made by a purchaser of real estate as evidence of good faith.

EARNEST MONEY CONTRACT A contract in which the seller agrees to sell and the buyer agrees to buy
EASEMENT A right that may be exercised by the public or individuals on, over, or through the property of others

ECONOMIC LIFE

The period over which a property will yield a return on the investment, over and above the economic or ground rent due to land.

ECONOMIC OBSOLESCENCE

Impairment of desirability or useful life arising from economic forces, such as changes in optimum land use, a legislative enactment which restricts or impairs property rights, and changes in supply-demand relationships.

EFFECTIVE AGE

Age in years, indicated by the condition and utility of a structure.

EJECTMENT

A form of action to regain possession of real property, with damages for the unlawful retention.

ELEVATION

Surveying: The distance above or below a datum. Architecture: A sketch of the front or side of a building

EMBLEMENTS

Growing crops (called "fructus industriales") which are produced annually through labor and industry. Emblements are regarded as personal property even prior to harvest; thus, a tenant has the right to take the annual crop, even if the harvest does not occur until after his tenancy has ended. A landlord cannot lease his land to a tenant farmer and then terminate the lease without giving the tenant the right to re-enter to harvest his crops.

EMINENT DOMAIN

The right of the government, both state and federal, to take private property for a necessary public use, with just compensation paid to the owner. Through eminent domain, the state may acquire land (either fee, leasehold, or easement) for streets, parks, public buildings, public rights-of-way, and the like. The state may delegate the power of eminent domain to local governments and to public corporations and associations such as school districts. No private property is exempt from this exercise of government power.

ENCROACHMENT

Trespass; the building of a structure or any improvements partly or wholly intruding upon the property of another.

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. There are two general classifications of encumbrances: (1) those that affect the title, such as judgments, mortgages, mechanic's liens and other liens which are charges on property used to secure a debt or obligation; and (2) those that affect the physical condition of the property such as restrictions, encroachments, and easements

ENDANGERED SPECIES

Plants and animals which are in danger of extinction throughout a significant portion of their ranges, as listed by U.S. Department of Interior.

ENGINEERING FEASIBILITY STUDY

Evaluation of a proposed construction at a particular site, to determine whether the proposed project is economically, structurally, and environmentally feasible.

ENTRY AND POSSESSION A method of foreclosure used in some states in which the lender, who already owns the property, reenters it and takes possession away from the borrower, either peacefully or by court order

ENVIRONMENTAL ASSESSMENT

A written evaluation, made early in the planning process, of the potential environmental impact of a proposed action.

ENVIRONMENTAL IMPACT ASSESSMENT

Analysis of a proposed action; the basis for deciding whether the proposed action will have a significant impact on the environment.

ENVIRONMENTAL IMPACT STATEMENT

A detailed, full-disclosure report pursuant to National Environmental Policy Act of 1969 (NEPA). An EIS identifies and analyzes the anticipated environmental impact of a proposed action, discusses how adverse effects will be mitigated.

EQUITY

In real estate, the interest or value of the real estate over and above the amount of the indebtedness thereon

EQUITY CUSHION The amount of equity required before a lender will make a loan
EQUITY LOAN Junior (subordinate) loan based on a percentage of the equity

EQUITY OF REDEMPTION

Also known as Statutory Redemption or Redemption. The right of the mortgagor, before a foreclosure sale, to reclaim property which has been forfeited due to mortgage default. The mortgagor can redeem the property by paying the full debt, plus interest and cost. Takes place in Title Theory states.

EQUITY RIGHT OF REDEMPTION A right of the owner to avert foreclosure by paying the debt, interest, and costs
EQUITY SKIMMER A scam artist who assumes a loan and collects money up front, and possibly rents, then refuses to pay the payments on the assumed loan while keeping the cash paid up front

EROSION

Wearing away land through processes of nature, for example by streams and wind.

ESCALATION CLAUSE

A clause in a lease which causes a rent increase, contingent on a specific action.

ESCHEAT

The reverting of property to the state by reason of failure of person legally entitled to hold or when heirs capable of inheriting are lacking.

ESCROW

In real estate, it is the state or condition of a deed which is conditionally held by a third party, called the escrow agent, pending the performance or fulfillment of some act or condition.

ESCROW AGREEMENT

A written agreement between two or more parties whereby the grantor, promisor or obligor, delivers certain instruments or property into the hands of a third party, the escrow agent, to be held by said third party until the happening of a contingency or performance of a condition, and then to be delivered to the grantee, promisee, or obligee

ESTATE

In real estate it refers to the degree, quantity, nature, and extent of interest which a person has in real property, such as a fee simple absolute estate, an estate for years.

ESTATE AT SUFFERANCE

An estate in land arising when the tenant wrongfully holds over after the expiration of his term; the landlord has the choice of evicting the tenant as a trespasser or accepting such tenant for a similar term and under the conditions of the tenant's previous holding; often called a tenancy at sufferance.

ESTATE FOR LIFE

A freehold estate, not of inheritance, but which is held by the tenant for his own life or the life or lives of one or more other persons, or for an indefinite period that may extend for the life or lives of persons in being, and beyond the period of life.

ESTATE FOR YEARS

An interest in land for a fixed period of time, from one day upwards; often called a tenancy for years.

ESTATE FROM PERIOD TO PERIOD

An interest in land where there is no definite termination date but the rental period is fixed at a certain sum per week, month or year; often called tenancy from year to year.

ESTATE IN REVERSION

The residue of an estate left in the grantor to commence in possession after the termination of some particular estate

ESTOPPEL

A legal doctrine which prevents one from asserting rights that are inconsistent with a previous position or representation.

ESTOPPEL CERTIFICATE An instrument executed by the mortgagor setting forth the status of and the balance due on the mortgage as of the date of the execution of the certificate

ESTOVERS

Wood which a tenant is allowed to take from the landlord's premises for the necessary fuel, implements, repairs, etc., of himself and his (resident) servants. ET AL. Abbreviation for et alii, Latin meaning and others. ET UX. Abbreviation for et uxor, meaning and wife.

ET VIR

Latin meaning and husband.

EVICTION

Dispossession by process of law; the act of depriving a person of the possession of lands he has held pursuant to a judgment of the court.

EXCESS

Designates real property which is no longer required by the Federal agency accountable for it.

EXCESSING

The process of determining that real estate is not needed by the Army; reporting excess property to the disposal agency for disposal.

EXCHANGE

Disposal of any real interest by exchanging it for another real interest of equal value instead of cash.

EXCLUSIVE AGENCY An agreement to employ one broker only. If the sale is made by any other broker both are entitled to commissions

EXCLUSIVE LEGISLATIVE JURISDICTION

Jurisdiction under which the Federal Government holds all the authority of a state legislate over a particular area, except authority to serve process in cases arising from occurrences outside of the area.

EXCLUSIVE RIGHT TO SELL An agreement to give, for a specified period, only one broker the right to sell. If a sale during the term of the agreement is made by the owner or by any other broker, the broker, holding the exclusive right is entitled to compensation
EXECUTION SALE The sale of property by a sheriff pursuant to a court order

EXECUTOR

An individual or institution designated in a will and appointed by a court to settle the estate of the testator.

EXPERT WITNESS

Persons with particular knowledge or skill which enables them to give an opinion on the facts in dispute.

EXTENDING THE LOAN TERM Giving the borrower more time to repay a loan
EXTENSION AGREEMENT

 

COMPANY OVERVIEW
CCFG Investments provides alternative financing solutions for real estate investors, developers, and investment property owners. Our creative and flexible lending programs are the direct result of our involvement in more than 500 million dollars of real estate.
CONTACT

858.456.2423 direct
858.225.3683 fax
info@ccfginvestments.com
2020 Columbia St
San Diego, CA 92101

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As a direct lender, CCFG Investments specializes in short-term loans secured by residential and commercial real estate. Our knowledge of the real estate marketplace allows us to fund transactions that often do not meet the strict underwriting criteria of traditional lenders. Understanding that no two transactions are identical
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