Real Estate Glossary
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Real Estate Glossary for — 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.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. An organization that gathers, records, updates, and stores financial and public records information about the payment records of individuals who are being considered for credit.
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