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deed
|
A legal document conveying title to a property. |
deed in lieu of foreclosure
|
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 Nevada instead of a mortgage; title is
conveyed to a trustee. |
deed restriction
|
Limitations in the deed to a property that dictate certain
uses that may or not be made of the property. |
default
|
Failure to make mortgage payments on a timely basis or to
comply with other requirements of a mortgage. |
deficiency judgement
|
A court order against a borrower under a mortgage to pay to
the lender an amount sufficient to make up for the difference
between what the borrower owes under the mortgage and the amount
the lender sold the property for under a mortgage remedy
action. |
delinquency
|
Failure to make mortgage payments when payments are due. |
depreciation
|
A decline in the value of property; the opposite of
appreciation. |
discount
|
A sum of money held back from a mortgage advance as prepaid
interest. |
discount points
|
(see point) |
distraint
|
A landlord's action for recovering arrears in rent by taking
possession of and selling the tenant's personal property. |
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. |
dual agency
|
This situation arises when an agent acts for both the buyer
and seller creating a conflict of interests. |
due-on-sale
|
A clause in a mortgage that allows the lender to demand
repayment in full if the borrower sells the property. |
