Letter D Vocab Flashcards
This term describes an award issued to one party as compensation for breach of contract.
Damages
This term describes a license that provides a person with the right to sell non-affixed OR movable units or property.
Dealer’s License
This term defines any Charge or Cost.
Debit
Ex. Using a Debit Card at a store when you pay for something.
What is the formula to calculate Debt-To-Income Ratio?
All Housing expenses + (All Other Monthly expenses / Monthly Gross Income)
This term defines a creditor placed lien against the estate of a deceased to recover debts owed by deceased.
Deceased Estate Lien
This term defines the deceased person in a contract.
Decedent
This term defines a written legal document that is signed and delivered and is used to convey the ownership of real property and legal rights to another.
Deed
This term describes that the owner of the home has the option to “GIVE UP” rights and possession to the bank in lieu of a foreclosure.
Deed in Lieu of Foreclosure
This term defines restrictions on the use of the real estate property in some way.
Deed Restrictions
This term defines that a contract can be terminated if certain criteria is met or not met.
Defeasible
This term defines what it means to convey or grant a leasehold estate. This refers to giving an estate, to transfer it through a will or a lease.
Demise
This term defines a fall in an assets value based on outside economic factors OR Reduction in the value of an asset over time due to wear and tear.
Depreciation
This term defines that Real Estate contracts must have the legal attributes of the property notated on the contract.
Description
This term defines person who builds improvements on owned land.
Developer
This term defines a contract clause in a will leaving real estate to someone else AKA inherit OR to will or transfer real property upon one’s death.
Devise Clause
This term defines the direction of growth as realized over a period of time.
Directional Growth
Ex. New developments are headed towards Casa Grande and Wickenburg.
This term defines that this occurs when the main obligations of a contract end.
Discharge Of A Contract
This term defines when one spouse waives their rights to a specific property.
Disclaimer Deed
This term describes a requirement an agent to declare, explain, obtain documentation, and give choices to the parties so that they can make an informed decision and not hold other party liable.
Disclosure
This term defines a type of prepaid interest that lowers the A.P.R. over the life of the loan.
Discount Points
This term describes the right of the owner to dispose of the property.
Disposition
This term defines seizing a tenant’s property until full payment has been made.
Distraint
This term defines the doctrine that governs the use of surface water.
Doctrine of Prior Appropriation
This term defines a wife’s interest in her husband’s property upon his death OR Life estate the
wife has when her husband dies.
Dower
This term defines the detailed payment plans structured and required to complete a construction loan project.
Draw Payments
What is the formula for Debt to Income / DTI Ratio?
This is calculated by dividing total recurring monthly debt by gross monthly income, and it is expressed as a percentage.
This term is used to describe when the agent is representing both parties in a transaction.
Dual Agency
This term is used to describe steps taken by the buyer to verify important information on the property they are interested in purchasing.
Due Diligence
This term is used to describe a contract clause that is added to prevent a new buyer from assuming the loan.
Due On Sale Clause
