New York real estate glossary
Know the term. Understand the rule.
Search 189 exam terms from all 19 New York salesperson curriculum subjects. Every definition opens into a sourced guide with an exam cue, a practical example and the distinction students often miss.
How to use this glossary
Read the short definition first. Then open the term for the exam pattern, New York example and common mix-up.
Filter by topic All 19 topics
15 terms beginning with E
Showing 1 to 15
E
Property rights and title
Easement
A nonpossessory right to use another person's land for a stated purpose.
Open term guideCommercial and investment
Effective gross income
Income expected or received after vacancy and collection loss, plus other property income included in the analysis.
Open term guideLand use
Eminent domain
The government's power to take private property for public use with just compensation as required by law.
Open term guideProperty rights and title
Encroachment
A physical improvement that crosses a property line or intrudes into another protected area.
Open term guideConstruction and environment
Environmental assessment form
A New York SEQRA form used by an agency to help evaluate the environmental significance of a proposed action.
Open term guideConstruction and environment
Environmental impact statement
A detailed document examining potentially significant environmental impacts, mitigation and reasonable alternatives under SEQRA.
Open term guideTaxes and assessments
Equalization rate
New York State's measure of a municipality's overall level of assessment, calculated from total assessed value and total market value.
Open term guideReal estate finance
Equity
The owner's value in property after subtracting liens from the property's value for the calculation being used.
Open term guideLicense law
Escrow
Money, documents or property held under stated conditions until a transaction event occurs.
Open term guideProperty management
Eviction
A legal process used to recover possession from a tenant under applicable grounds and court procedures.
Open term guideProperty insurance
Exclusion
A policy provision that removes specified property, causes of loss, people or situations from coverage.
Open term guideContracts and leases
Executed contract
A contract in which the parties have completed the promised performance.
Open term guideContracts and leases
Executory contract
A contract under which one or more material obligations remain to be performed.
Open term guideTaxes and assessments
Exemption
A law-based reduction or removal of qualifying property value from specified property taxation.
Open term guideValuation
External obsolescence
A loss in value caused by influences outside the property.
Open term guide