E -Compendium of Real Estate Terms & Concepts

This is a form of sinking fund which is set aside each year to provide financial resources for items of repair or renewal which are likely to be undertaken at intervals of more than one year, e.g. external decoration or renewing parts of heating boilers.

Environmental assessment (EA) is the assessment of the environmental consequences (positive and negative) of a plan, policy, program, or concrete projects prior to the decision to move forward with the proposed action. In this context, the term ‘environmental impact assessment’ (EIA) is usually used when applied to concrete projects by…

An easement can be defined as a privilege without profit whereby an owner of land or servient tenant allows another person who has the dominant tenement certain rights over his land. The person with the right to an easement must however be the land owner. Easement falls into 2 categories: