Mortgage Glossary - E

Definitions of Mortgage Terms

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Eminent Domain Escrow Closing Examination of Title

 

• Eminent Domain - The right of a government to take private property for public use upon payment of its fair market value. Eminent domain is the basis for condemnation proceedings.
• Escrow Closing - The transfer of title to the buyer after all conditions of sale have been met.
• Examination of Title- The report on the title of a property from the public records or an abstract of the title.