Property and real estate glossary
There are 150 entries in this glossary.All
| Term | Definition |
|---|---|
| DATE OF APPRAISAL |
The specific point in time as of which an appraiser designates the value of a home. Often stipulated as the date of inspection. |
| DEBT |
An obligation to repay some amount owed. This may or may not be monetary. |
| DEBT OF EQUITY RATIO |
The ratio of the amount a mortgagor still owes on a property to the amount of equity they have in the home. Equity is calculated at the fair-market value of the home, less any outstanding mortgage debt. |
| DEED |
A document indicating the ownership of a property. |
| DEED OF RECONVEYANCE |
A document which transfers ownership of a property from a Trustee back to a borrower who has fulfilled the obligations of a mortgage. |
| DEED OF RELEASE |
A document which dismisses a lien or other claim on a property. |
| DEED OF SURRENDER |
A document used to surrender any claim a person has to a property. |
| DEED OF TRUST |
A document which transfers title in a property to a trustee, whose obligations and powers are stipulated. Often used in mortgage transactions. |
| DEED-IN-LIEU (OF FORECLOSURE) |
A document given by a borrower to a lender, transferring title of the property. Often used to avoid credit-damaging foreclosure procedures. |
| DEFAULT |
The condition in which a borrower has failed to meet the obligations of a loan or mortgage. |
| DELINQUENCY |
The state in which a borrower has failed to meet payment obligations on time. |
| DEPOSIT |
Cash given along with an offer to purchase property, Also called EARNEST MONEY. |
| DEPRECIATION |
The natural decline in property value due to market forces or depletion of resources. |
| DETACHED SINGLE FAMILY HOME |
A single building improvement intended to serve as a home for one family. |
| DISCOUNT POINTS |
Points paid in addition to the loan origination fee to get a lower interest rate. One point is equal to one percent of the loan amount. |