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Easement

A right that someone has to use the land belonging to another, eg: a water authority may have a sewerage easement across part of your property.

Equity

The amount of an asset actually owned. Equity is the difference between the market value of the property and the amount still owed on its mortgage.

Estate

The total of all the real estate and personal property owned by an individual at the time of death.

Exclusive Listing/Sole Listing

A written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time.

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