D Terms : Real Estate Glossary




Real Estate Glossary: D Glossary A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Debt An amount owed to another. See installment loan and revolving liability. Deed The legal document conveying title to a property. Deed-in-Lieu A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure. Also called a "voluntary conveyance." Deed of Trust The document used in some states instead of a mortgage; title is conveyed to a trustee. Default Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage. Delinquency Failure to make mortgage payments when mortgage payments are due. Deposit A sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan. See earnest money deposit. Depreciation A decline in the value of property; the opposite of appreciation. Discount Points See point. Dower The rights of a widow in the property of her husband at his death. Down Payment The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage. Due-on-Sale Provision A provision in a mortgage that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the mortgage. Due-on-Transfer Provision This terminology is usually used for second mortgages. See due-on-sale provision.
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