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D
Deed - A written document by which the ownership of land is transferred from one person to another.
Deed of Trust - See " Mortgage."
Delivery - The final and absolute transfer of a deed from seller to buyer in such a manner that it cannot be recalled by the seller. A necessary requisite to the transfer of title.
Devise - The disposition of real property by will.
Due on Sale Clause - Provision in a mortgage or deed of trust which requires loan to be paid in full if property is sold or transferred.
E
Earnest Money - Advance payment of part of the purchase price to bind a contract for property.
Easement - An interest in land owned by another that entitles its holder to a specific limited use, such as laying a sewer, putting up electric power lines, or crossing the property.
Egress - The right to leave a tract of land. Often used interchangeably with "access."
Eminent Domain - The power of the state to take private property for public use upon payment of just compensation.
Encroachment - A trespass or intrusion onto another's property, usually by a structure, wall or fence.
Encumber - To burden a parcel of land with a lien or charge, e.g., a mortgage.
Encumbrance - A lien, liability or charge upon a parcel of land.
Escheat - A reversion of property to the state in those cases where an individual dies without heirs or devisees, and, in some states, without a will.
Escrow - A procedure whereby a disinterested third party handles legal documents and funds on behalf of a seller and buyer, and delivers them upon performance by the parties.
Estate - A person's possessions. The extent of a person's interest in real property.
Examination of Title - The investigation and interpretation of the record title to real property based on the title search or abstract.
Exception - In legal descriptions, that portion of land to be deleted or excluded. The term often is used in a different sense to mean an objection to title or encumbrance on title.
Executor - A person appointed by the probate court to carry out the terms of a will. The term is "executrix" if that person is a woman.
Extended Mortgage - One in which the due date of a mortgage is extended for a longer period, often at a higher interest rate than the original mortgage.
F
Fannie Mae - Federal National Mortgage Association (also FNMA) is a private corporation, federally chartered to provide financial products and services that increase the availability and affordability of housing by purchasing mortgage loans.
Fee Simple Estate - The greatest interest in a parcel of land that it is possible to own. Sometimes designated simply as "Fee."
Federal Housing Administration (FHA) Guarantee - An insurance contract in which HUD through FHA insures that the named lender will recover a specific percentage of the loan amount from the insurer (FHA) in the event that the loan goes bad.
Financing Statement - A document filed with the Register of Deeds or Secretary of State securing the title to personal property.
Fixtures - Any item of property so attached to real property that it becomes a part of the real property.
Flood Certification - A common term for a Federal Emergency Management Agency (FEMA) Standard Flood Hazard Determination Form (SFHDF). This determines whether land or a building is located within a Special Flood Hazard Area for purposes of flood insurance requirements under the National Flood Insurance Program.
Forfeiture of Title - Provision in a deed creating a condition which will cause title to be passed to another should certain circumstances occur.
Freddie Mac - Federal Home Loan Mortgage Corporation (also FHLMC) is a stockholder owned corporation chartered by Congress that purchases mortgage loans.
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