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Glossary
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TermDefinition
Earnest MoneyA deposit in the form of cash or a note given to a seller by a buyer as good faith assurance that the buyer intends to go through with the purchase of a property.
EasementThe right one party has in regard to the property of another, such as the right of a public utility company to lay lines.
Equal Credit Opportunity ActA federal law prohibiting lenders and other creditors from discrimination based on race, color, sex, religion, national origin, age, marital status, receipt of public assistance or because an applicant has exercised his or her rights under the Consumer Credit Protection Act.
EquityThe value of a property beyond any liens against it. Also referred to as owner's interest.
Escape ClauseA provision allowing one party or more to cancel all or part of the contract if certain events fail to happen, such as the ability of the buyer to obtain financing within a specified period.
EscrowMoney placed with a third party for safekeeping either for final closing on a property or for payment of taxes and insurance throughout the year.
Excepted ServiceA term used to refer to positions in the civil service that are specifically excluded from the requirements of the Civil Service Act. Usually identified as "Schedule A", "Schedule B", or "Schedule C" appointments.
Excepted Service AppointmentA term used to refer to positions in the civil service that are not in the competitive service or the Senior Executive Service (often identified as "Schedule A", "Schedule B", or "Schedule C" appointments). For more information visit: https://www.opm.gov/policy-data-oversight/human-capital-management/. For a list of excepted service agencies, visit https://www.usajobs.gov/. 
Excepted Service AppointmentA term used to refer to positions in the civil service that are specifically excluded from the requirements of the Civil Service Act. Usually identified as "Schedule A", "Schedule B", or "Schedule C" appointments.
Last Modified: 12/11/2020 3:47 PM