Examination of Title 
Title company review of public records and other documents to determine the chain of ownership of a property. 

Excavate 
To dig. To make a hole or cavity. 

Excavation 
Preparing for a foundation to be laid by clearing trees and removing dirt and topsoil. Digging.

Excavation Line 
Line placed on a building site, which marks off the area to be excavated. 

Exception 
Waiver of a requirement in an agreement. Alternately, a right or portion of property reserved to the grantor in a conveyance by deed. 

Exceptional Depreciation 
Damages to a building, which exceed that of normal wear and tear. 

Excess Condemnation 
Taking more property in a condemnation proceeding that than amount that is required. 

Excess Depreciation 
Costs taken over and above what one is entitled to and can occur either by claiming depreciation costs exceeding the actual depreciable value or by depreciating items that cannot be depreciated. 

Excess Income 
Rental income, received from property, which exceeds the costs of owning and maintaining the property. 

Exchange 
Reciprocal transfer of property from one entity to another. Alternately, a market for securities, such as the New York Stock Exchange (NYSE). 

Exclusionary Zoning 
Property zoning which has the net effect, intended or not, of excluding the poor and minority groups from living in a particular area. Large property size requirements are often responsible exclusionary zoning. 

Exclusive Agency 
Employment of a particular broker. If a sale by another broker is accepted, both are entitled to commissions. 

Exclusive Buyer's Agent (EBA) 
An agent or company, which works exclusively for buyers. They do not represent sellers or list properties. 

Exclusive Listing 
Contract which gives one agent the exclusive right to market a particular property for a set period of time. 

Exclusive Right to Sell 
Contract with a real estate agent that pays a commission to the agent even if the property is sold to a buyer found by the owner. 

Exculpatory Clause 
A provision in a mortgage, which allows the borrower to surrender the property to the lender without personal liability for the loan. 

Execute 
To sign, complete, perform and carryout all the terms of a contract including signing the contract and delivering it to the proper party. 

Executed Contract 
A contract, whose terms and provisions have been completely fulfilled and satisfied, by all involved parties.

Execution 
Conducting a transaction such as the purchase and sale of real estate or the signing and delivering of a contract. 

Executor 
Someone appointed to carryout instructions left in a will. If no executor is named in the will, one is named by probate court. 

Executor's Deed 
A deed to convey property, which is done by the executor of a will, once it is authorized by the probate court. 

Executory 
Unfulfilled action where something remains to be done in order to be completed. 

Executory Contract 
A contract under which one or more parties has not yet performed. 

Executory Cost 
Cost excluded from the minimum lease payments to be made by the lessee in a capital lease. The lessee reimburses the lessor for the lessor's expense payments. 

Exempt 
Real estate that is not subject to property tax such as that owned by nonprofit entities including charitable, governmental, and religious institutions. 

Exemption 
An amount provided by law that reduces taxable income or taxable value. Alternately, removal of property from the tax base, partially or completely. 

Exfiltration 
Air leakage from the interior of a building into the environment. 

Exfiltration Test 
Check for leaks in a buried water line by filling a manhole, by the part of the line in question, with water and watching it to find a sign of leakage. 

Exfoliation 
Physical weathering or chemical action creating a peeling off of some surface stone or masonry. Moisture freezing in surface cracks causes expansion, creating exfoliation. 

Exhaust Fan 
Ventilating device to remove smoke, undesired odors, stale or hot air or water vapor. Venting is normally done to the outside. 

Existing Grade 
Grade at an excavation site prior to commencement of work. 

Exit 
Passageway out of a building. 

Exit Latch (Door) 
Crossbar on the interior of a door, which is pushed to retract the latch, which allows the door to open. 

Exothermic 
Chemical change in which there is a liberation of heat, as in combustion. Reaction that gives off heat.