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| EasementA legal document on certain property giving persons other than the owner the right of way, access and limited use or enjoyment of the land involved. (Example, power companies sometimes need a right of way for power lines.) Closing documents and/or land surveys will describe and show such easements. These easements must be acceptable to the mortgage company before the buyer can consummate a binding closing. See also:Earnest MoneyEasementEminent DomainEqual Credit Opportunity ActEquityEquity LoanEscrowEvictionExclusive Agency ListingExtension
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