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Real Estate Glossary > D words > Flashcards

D words Flashcards

1
Q

Damages

A

Theindemnityrecoverablebyapersonwhohassustainedaninjury,eitherinhisorher person,property,orrelativerights,throughtheactordefaultofanother.Losssustainedorharmdone toapersonorproperty.

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2
Q

Debit

A

Inaclosingstatement,anexpenseormoneyreceivedagainstacredit.

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3
Q

Debt

A

Thatwhichisduefromonepersonoranother;obligation,liability.

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4
Q

DebtInstrument

A

Apaperorelectronicobligation

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5
Q

Deceit

A

Makingastatementoffactthatyouknownottobetrue.Makingastatementoffactinwhich noonehasthegroundstobelieveitistrue,orfailingtodisclosea“materialfact”.

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6
Q

Dedication

A

Thegivingoflandbyitsownertoapublicuseandtheacceptanceforsuchuseby authorizedofficialsonbehalfofthepublic.

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7
Q

Deed

A

Writteninstrumentwhichwhenproperlyexecutedanddeliveredconveystitletorealproperty fromoneperson(grantor)toanother(grantee).

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8
Q

DeedinLieuofForeclosure

A

Adeedtorealpropertyacceptedbyalenderfromadefaultingborrower toavoidthenecessityofforeclosureproceedingsbythelender.

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9
Q

DeedofTrust

A

Alegaldocumentbywhichaborrowerpledgescertainrealpropertyorcollateralas guaranteefortherepaymentofaloan.Itdiffersfromthemortgageinanumberofimportantrespects. Forexample,insteadoftheirbeingtwopartiestothetransactiontherearethree.Thereistheborrower whosignsthetrustdeedandwhoiscalledthetrustor.Thereisthethird,neutralparty,towhomtrustor deedsthepropertyassecurityforthepaymentofthedebt,whoiscalledthetrustee.And,finally,there isthelenderwhoiscalledthebeneficiary,theonewhobenefitsfromthepledgeagreementinthatin theeventofadefaultthetrusteecansellthepropertyandtransferthemoneyobtainedatthesaleto lenderaspaymentofthedebt.

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10
Q

DeficiencyJudgment

A

Ajudgmentgivenbyacourtwhenthevalueofsecuritypledgedforaloanis
insufficienttopayoffthedebtofthedefaultingborrower.

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11
Q

Demand

A

Thesupplyofwillingandablebuyersinthemarketplaceorlackthereof.

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12
Q

DepartmentofHousingandUrbanDevelopment(HUD)

A

Afederalagencythatadministersfundingfor projectsrelatedtohousing.

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13
Q

DepreciatedValue

A

Thebasisofadepreciableassetusedtocomputethetaxablegainfromitssale;the basisisacquisitioncostpluscapitalimprovementslessaccrueddepreciation.

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14
Q

Depreciation

A

Theabilitytodeductexpensesonimprovementsmadetoincomeproducingproperty.

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15
Q

Disability

A

Along‐termphysicalormentalimpairment,orcondition,thatsubstantiallylimitsaperson’s majoractivities.

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16
Q

DiscountPoints

A

Theamountofmoneytheborrowerorsellermustpaythelendertogetamortgageat astatedinterestrate.

17
Q

DiscountRate

A

TheminimuminterestratesetbytheFederalReserveforlendingtootherbanks.

18
Q

DistributiveNegotiation

A

Whentwoormorepartiesaretryingtoclaimthemaximumamountofvalue forthemselves.Alsoreferredas‘win/lose’or‘fixed/pie’negotiation.

19
Q

DocumentaryTransferTax

A

AStateenablingActthatallowsacountrytoadoptadocumentarytransfer taxtoapplyonalltransfersofrealpropertylocatedinthecounty.Noticeofpaymentisenteredonthe faceofthedeedoronaseparatepaperfiledwiththedeed.

20
Q

DominantTenement

A

Landbenefitingfromaneasementappurtenant.

21
Q

DualAgency

A

Anagencyrelationshipinwhichtheagentactsconcurrentlyforbothoftheprincipalsina transaction.

22
Q

DueonSaleClause

A

Anaccelerationclausegrantingthelendertherighttodemandfullpaymentofthe mortgageuponasaleoftheproperty.

23
Q

DueProcess

A

ThelegalrequirementthattheStatemustrespectalllegalrightsthatareowedtoa person.

Real Estate Glossary (23 decks)

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