Real Estate Terms
Debt: The promise to repay for something owed.
Debt Service: A series of payments owed on a mortgage.
Debt Ratio: The percentage of a borrowers monthly expenses versus the monthly income.
Declaration of Restrictions: A recording of restrictions associated with a subdivision or piece of land.
Dedication: The donation and acceptance of private property by the property owner to a public authority for public use.
Deed: A recorded document showing ownership of a given property.
Deed-in-Lieu Of Forclosure: Giving up the deed (ownership) to a property by the owner to the lender to avoid forclosure.
Deed Restrictions: Restrictions on the use of a property that is stipulated in the deed and is binding to all future owners.
Default: The act of not performing as promised.
Delivery: The transfer of possession to a property.
Department of Real Estate: The governmental department responsible for the licensure and regulation of real estate agents and brokers.
Deposit: Earnest money given by a buyer with an offer to purchase a property.
Depreciation: The decrease in property value due to market conditions or deteriation.
Discount Broker: A real estate broker charging a lower commission while offering less services.
Discount Points: An amount paid in addition to a loan fee in exchange for a lower interest rate on the loan.
Distressed Property: A property ususally where the owner is ususally behind in mortgage payments and is under pressure to sell to avoid forclosure.
Documentary Stamps: A state tax on the sale of property.
Down Payment: The cash portion paid by a buyer to purchase a property.
Dry Rot: Fungal decay of wood.
Dry-Wall: Type of material used in construction of interior walls in a property.
Due on Sale Clause: A clause in the in a mortgage contract that calls for a payment of the loan in full upon the transfer of ownership of the property.
Duplex: A building divided in half containing two seperate living units.
Real Estate Terms beginning with C
Real Estate Terms beginning with E