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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Realty Terms

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elevator (elev, elv)Abbreviation (Abbreviation)
empty nestersDefinition (Estate-management, Real-estate)
Men or women whose children have grown up and moved out and who might be in the market for a smaller house.
en suiteDefinition (Real-estate)
An en suite is a bathroom that is entered directly from ones.
encroachmentDefinition (Real-estate, Legal-contracts)
An improvement, such as a fence, that illegally extends onto another property or impedes the neighbour's use of that property.
encumbranceDefinition (Mortgages, Real-estate, Financial-banking, Legal-contracts)
Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
environmental impact statement (EIS)Definition (Real-estate, Financial-banking, Legal-contracts)
A government-required evaluation of how construction will affect the environment surrounding a site.
environmental impact statement/environmental impact report (EIS/EIR)Acronym
escrowDefinition (Mortgages, Real-estate, Taxation, Financial-banking)
An account in which money for property taxes and insurance is held until paid. Money is added to the account every time a mortgage payment is made.
escrow agentDefinition (Mortgages, Real-estate, Financial-banking, Legal-contracts)
A neutral third party who holds the documents and money in a real-estate transfer until all conditions are met.
estateDefinition (Investments, Estate-management, Real-estate, Financial-banking, Legal-contracts)
The ownership interest of an individual in real property.
estimated current market value (ECMV)Acronym
estimated rental value (ERV)Acronym
evictionDefinition (Real-estate, Legal-contracts)
The act of kicking someone out of a property, usually for violating terms of a lease.
examination of titleDefinition (Real-estate, Legal-contracts)
A review of public records and title abstracts to determine the chain of ownership of a property.
exchangeDefinition (Mortgages, Real-estate, Taxation, Financial-banking)
A trade of property for other property or services. Like-kind property exchanges are a popular tax-deferral strategy.
exclusive agent (EA)Acronym
Exclusive Buyer's Agent (EBA)Acronym (Designation)
exclusive listingDefinition (Real-estate, Legal-contracts)
A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.
exclusive right to sell (ERS, ERTS)Acronym
exclusive right to sell with reserved prospect (ERSP)Acronym
exclusive right to sell with variable rate commission (ERSV)Acronym
Exclusive Seller's Agent (ESA)Acronym (Designation)
existing home sales (EHS)Acronym
  ➥  Number of resale closings during a particular month.
expropriationDefinition (Real-estate)
The seizing of property to the government or other party for public use or economic development.
fair market rent (FMR)Acronym
fair market rental value (FMRV)Acronym
fair market value (FMV)Definition (Real-estate)
The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
fair market value appraisal (FMVA)Acronym
farmhouse (farm)Abbreviation (Abbreviation)
Fédération des Chambres Immobilières du Québec (FCIQ)Company, Quebec, Canada
  ➥  French acronym for Quebec Federation of Real Estate Boards.
fee simpleDefinition (Real-estate, Legal-contracts)
Outright ownership of real estate, free of any liens or other claims against title.
fee simple defeasibleDefinition (Real-estate, Legal-contracts)
When a person has outright ownership of real estate (free of any liens or other claims against title), but the use of the property is restricted.
Fellow of the Real Estate Institute (FRI)Canada
  ➥  Real Estate Institute of Canada accreditation.
Fellow of the Real Estate Institute - Appraisal Specialist (FRI(A))Canada
Fellow of the Real Estate Institute - Executive (FRI(E))Canada
field changesDefinition (Real-estate)
Modifications made to a building on-site.
final generic environmental impact statement (FGEIS)Acronym
final supplemental environmental impact statement (FSEIS)Acronym
finance, insurance and real estate (FIRE)Definition
A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
finder feeDefinition (Investments, Mortgages, Real-estate, Insurance, Financial-banking)
A fee paid by a party to another for services rendered.
finished and graded (fgra)Abbreviation (Abbreviation)
Land that has been prepared for the development of buildings or the installation of improvements such as sewer and electric lines, streets, public facilities and common areas.
  ➥  Could mean a lot, development, complex, parcel of land, etc.
finished basement (f-bmt)Abbreviation (Abbreviation)
finished room over garage (FROG)Acronym
first-price sealed bid auction (FPSB)Acronym
fixed timeDefinition (Real-estate)
The time of year when the owner in a timeshare arrangement is scheduled to have occupancy.
fixer-upper (fxr)Definition (Real-estate, Abbreviation)
A house that needs a lot of work and which sells for a discount.
fixtureDefinition (Real-estate)
Personal property that becomes real property when it is attached to a building. Examples include chandeliers, built-in bookcases and cabinets and drapery rods.
flat feeDefinition (Investments, Mortgages, Real-estate, Insurance, Financial-banking)
A fixed charge that a broker requests instead of a commission.
flex roomDefinition (Real-estate)
A room within a home that can change usage to meet need.
flood plain (flpl)Definition (Real-estate, Insurance, Abbreviation)
Land that is prone to inundation.
Previous Page
Credit RepositoryElectric or Electricity
 
Currently Displayed — Page 7
Elevator — Flood Plain
  Next Page
Floor PlanInspection Report

Search the Glossary

Index of Realty Terms

Page 1: Abandonment
Architectural Fees
Page 2: Architectural Significance
Book Value
Page 3: Boot
Caravan
Page 4: Carport
Commercial Property...
Page 5: Commercial Property Manager
Covenantor
Page 6: Credit Repository
Electric or Electricity
Page 7: Elevator
Flood Plain
Page 8: Floor Plan
Inspection Report
Page 9: Inspection Required
Local Improvement Charge
Page 10: Local Taxes
New Home Warranty Program
Page 11: Newfoundland Association of...
Price Related Differential
Page 12: Prince Edward Island Real...
Real Estate Investor
Page 13: Real Estate Magazine
Second Home Mortgage
Page 14: Security
Title Defect
Page 15: Title Insurance
Yukon Real Estate...
Page 16: Zero
Zoning

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