Sunday, May 19, 2024, 6:04 AM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
E
EXCHANGEA method of conveying real property by trading with another property. |
EXCLUSIVE AGENCYA written instrument giving one agent the right to sell property for a specified time, but reserving the right of the owner to sell the property himself without the payment of a commission. |
EXCLUSIVE RIGHT TO SELLA written agreement between owner and agent giving the agent the right to collect a commission if the property is sold by anyone during the term of his agreement. |
EXECUTETo complete, to perform, to make, to do, to follow out; to execute a deed, to make a deed, including especially signing; to execute a contract, to perform the contract, to follow out to the end, to complete. |
EXECUTED CONTRACTA contract that is fully signed or performed. |
EXECUTORA person named in a will to carry out its provisions as to the disposition of the estate of a deceased person. |
EXECUTORY CONTRACTA contract not yet fully performed. |
EXECUTORY PROCESSDescribed as the fastest way to foreclose on a mortgage for nonpayment of debt; this method must be expressed in the mortgage contract and signed and agreed to by all parties. |
EXECUTRIXFeminine of executor. |
EXPRESS AUTHORITYClearly stated duties of an agent set forth by his principal. |