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ERISA (Employee Retirement Income Security Act)
ERISA (Employee Retirement Income Security Act) Legislation passed in 1974 and administered by the Department of Labor that controls the investment activities primarily of corporate and union pension plans. More public pension funds are adopting ERISA-like standards.
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Investment Money directed toward the purchase, improvement and development of an asset in expectation of income or profits.
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Equity The difference between the market value of a property and the amount still owed on the mortgage.
Equity loans A loan based on a percentage of the equity a borrower holds in a collateral property.
Equity release This occurs when the homeowner takes out a mortgage on the property despite fully owning the house.
Equity trust An investment trust dealing with ownership rather than financing.
Equivalent level rate (ELR) Flat rate per square foot that will equal the same total present value as a proposed lease's variable cash flows.
ERISA (Employee Retirement Income Security Act)
Erosion The gradual loss of soil due to the operation of currents, tides or winds.
Errors and omissions insurance Malpractice insurance that protects architects, home inspectors and contractors from claims by clients for professional mistakes.
Escalation clause A clause in a lease providing for an increased rent at a future time due to increased costs to lessor, as in cost of living index, tax increases, etc.
Escape clause 1) A contract provision relieving a party of liability for failure to perform, as where a stated contingency does not occur. 2) A clause in a proprietary lease of a tenant-stockholder that permits the tenant to surrender the stock and lease back to the cooperative association and thereby terminate continuing liability for payments due under the lease.
Escheat The reverting of property to the state in the absence of heirs.
This dictionary contains 6433 terms. |
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