Expenses

The short-term costs that are deducted from an investment property’s income, such as minor repairs, regular maintenance, and renting costs.

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Executor

The person designated in a will to handle the state of the deceased. The probate court must approve any sale of property by the executor.

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Execution

The signing and delivery of an instrument. Also, a legal order directing an official to enforce a judgment against the property of a debtor.

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Exclusive-right-to-sell listing

(1) A listing contract under which the owner appoints a real estate broker as his or her exclusive agent for a designated period of time to sell the property on the owner’s stated terms and agrees to pay the broker a commission when the property is sold, whether by the broker, the owner, or another […]

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Exchange

A transaction in which all of part of the consideration for the purchase of real property is the transfer of like-kind property. Ex. real estate for real estate.

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Evidence of title

A proof of ownership of property, which is commonly a certificate of title, a title insurance policy, an abstract of title with lawyer’s opinion, or a Torrens registration certificate.

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