E EMANCIPATION - the point at which a minor comes of age. The age is typically 18 or 21. ENCUMBERED - when a lien, mortgage or other restraint is placed against a property. ENTREPRENEURIAL PROFIT - a market - derived figure that represents the amount an entrepreneur expects to receive in addition to costs; the difference between total cost and market value. EQUITABLE DIVISION (DISTRIBUTION) - a system of dividing property acquired by spouses during their marriage in connection with a divorce proceeding. EQUITY - the net proceeds from the sale of a home, minus the fees of the solicitor and the real estate agent and the satisfying of the mortgage. ESTATE - a right or interest in property or the property of a deceased person. EVALUATION - a study of the nature, quality, or unity of a parcel of real estate or interests in, or aspects of, real property, in which a value estimate is not necessarily required. EVIDENCE - documents, testimony or other informational material offered to the court to prove or disprove allegations in the pleadings. EXHIBIT - an item of evidence presented to the court. EX - PARTE - court relief that is granted due to the absence of opposing party. EXPECTANCY - future proceeds from an estate. EXPERT WITNESS - a professional used to help a judge reach a decision. Experts can include: Appraisers, Counselors, Evaluators, Accountants. Return to the Dictionary Page

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