Dictionary

Encroachment

Definition:   The unauthorized infringement or intrusion of an improvement or other real property onto another’s property. Pronunciation:   \in-ˈkrōch-mənt\ Used in a Sentence:   It was found that the fence was erected...

Eminent Domain

Definition:  The right of government (both state and federal), public corporations, public utilities and public service corporations to take private property with just compensation for a necessary public use. Pronunciation:  \ˈe-mə-nənt\...

Effective Gross Income (egi)

Definition: The anticipated income stemming from the estimated potential gross income from a rental property,  less deductions for vacancy and collection losses. Pronunciation: \i-ˈfek-tiv, e-, ē-, ə-\ Used in a Sentence:  After...

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...