Real Estate Glossary (A thru Z)

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Fort Lauderdale Real Estate Glossary

Glossary - D

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.

Deed Restriction

An imposed restriction in a deed that limits the use of the property. For example, a restriction could prohibit the sale of alcoholic beverages.

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.

Delivery

Transfer something from one entity to another.

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.

Demographics

Characteristics of human populations as defined by population size and density of regions, population growth rates, migration, vital statistics, and their effect on socio-economic conditions.

Depreciation

A decline in the value of property; the opposite of appreciation.

Discount rate

The percentage rate at which money or cash flows are discounted. The discount rate reflects both the market risk-free rate of interest and a risk premium.

Discounting

The process of reducing the value of money received in the future to reflect the opportunity cost of waiting to receive the money

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.

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