Estovers

Legally allowed necessities, such as the right of a tenant to use timber on leased property to support a minimum need for fuel or repairs.

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Estoppel certificate

(1) A legal instrument executed by a mortgagor showing the amount of the unpaid balance due on a mortgage and stating that the mortgagor has no defenses or offsets against the mortgagee at the time of execution of the certificate. (2) An estoppel certificate is a signed statement of facts that cannot later be contradicted […]

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Escrow

(1) Escrow is part of the homebuying process. It happens when a third party holds something of value during the transaction. Most often, the “value” the third party holds onto is the buyer’s earnest money check. When the transaction is complete (usually at closing), the third party will release those funds to the seller. (2) Escrow […]

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