Online properties for sale - glossary of terms - "E"

Use the index links below to find the term you wish to look up.

Exchange Contracts

Once contracts are exchanged, the contract to buy becomes binding. From exchange the seller must sell and the buyer must buy. Until contracts are exchanged no party is bound to proceed with the transaction.

Easement

The right that a landowner has over another piece of land.

Encumbrance

Something affecting a property such as a mortgage, lease etc.

Engross

When a draft document such as a contract is agreed by all parties.

Estate

An interest inland such as ownership, lease etc.