Glossary 
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E
Endorsement - the payee's signature on back of the check which shows that the payee has received payment for the amount of the check, and is responsible for recourse if necessary
Equity - in real estate, the difference between fair market value and current indebtedness; also referred to as the owners interest
Escheat - The process whereby a credit union is required to turn over unclaimed members' account balances to the state for safe keeping. Unclaimed balances are determined by the length of time (varies by state) the account has been in a dormant status.
Escrow Account - the segregated trust account in which funds are held by the lender for payment of taxes, insurance, mortgage insurance, lease payments, etc
Executor - an individual or a bank named in a will whose function is to distribute the funds and property in an estate to the rightful heirs