The title industry has its own language. Many of its words and idioms are derived from the language of the law while others are common words given special meaning related to land titles. There are also words and phrases coined over the years by the title industry itself.
Glossary
E
EQUITY
A system of jurisprudence supplementing the common law and enacted law under which justice, impartiality, and fairness is applied in circumstances not covered by enacted or common law.
EQUITY OF REDEMPTION
The right of one who has mortgaged his property to redeem that property upon payment of the mortgage debt, and especially the right to redeem within a reasonable time after the due date.
EROSION
The wearing away of land surfaces by forces of nature such as winds and water.
ESCHEAT
The reversion of property to the state when an owner dies leaving no legal heirs, devisees or claimants.
ESCROW
Technically, this term strictly refers to a deed delivered to a third person to be held by him until the fulfillment or performance of some act or condition by the grantee. In title industry parlance it means the depositing with an impartial third party called the escrow agent (usually the title company) of anything pertaining to a real estate transaction including money and documents of all kinds which are to be disbursed and delivered to the rightful parties by the escrow agent when all conditions of the transaction have been met.
ESCROW AGREEMENT
A written agreement usually made between buyer, seller, and escrow agent, but sometimes only between one person and the escrow agent. It sets forth the conditions to be performed incident to the object deposited in escrow, and gives the escrow agent instructions with respect to the disposition of the object so deposited.
ESTATE
(1) A sizable piece of rural land usually with a large house and other pretentious improvements. (2) The whole of one’s possessions, especially all of the property, assets, debts, and liabilities left by a deceased or bankrupt person. (3) The nature and extent of an owner’s rights in real estate.
ESTATE BY ENTIRETIES
An estate or interest in real estate predicated upon the legal fiction that a husband and wife are one person. A conveyance or devise to them (unless contrary intent is expressed) vests title in them as one person. Upon the death of either husband or wife, full title passes to the survivor.
ESTOPPEL
A legal restraint which stops or prevents a person from contradicting or reneging on his previous position or previous assertions or commitments.
ET UX
Abbreviations of Latin “et uxor” meaning “and wife”. Joe Doaks et ux means Joe Doaks and wife.
ET VIR
A Latin term meaning “and husband.” Jane Allen et vir means Jane Allen and husband.
EVICTION
To expel or oust a person, by legal process, from possession of real estate.
EXAMINATION
In title industry parlance, to peruse and study the instruments and muniments incident to a chain of title and to determine their effect and condition in order to reach a conclusion as to the status of the title.
EXAMINER
Usually referred to, in title industry parlance, as title examiner. One who examines and determines the condition and status of real estate titles.
