HomeReal Estate Glossary

Glossary of terms used on this site

There are 202 entries in this glossary.
Search for glossary terms (regular expression allowed)
Begins with Contains Exact term Sounds like
All A B C D E F G H I J L M N O P Q R S T U V W Y Z
Term Definition
Deed

Written document that when executed and delivered conveys title to real property.

Deed of trust

Document resembling a mortgage that conveys legal title to a neutral third party as security for a debt. Also called a trust deed or deed in trust.

Deed restrictions

Provisions placed in deeds to control how future landowners may or may not use the property. Also called deed covenants.

Default

Breach of a contract or failure to meet a legal obligation. Nonpayment of a mortgage beyond a certain number of payments is considered a default.

Deficiency judgment

Judgment issued against a borrower when the sale of foreclosed property does not bring in enough to pay the balance owed on the mortgage.

Delinquent loan

One where the borrower is behind, or late, in payments.

Depreciation

Gradual decline on paper in market value of real estate, especially because of age, obsolescence, wear and tear, or economic conditions.

Discount broker

Full-service broker who charges less than the prevailing commission rates in his or her community.

Discount points

Added loan fee charged by a lender to make the yield on a lower-than-market-value loan competitive with higher-interest loans.

Downpayment

Initial cash investment made as evidence of good faith when purchasing real estate. It is usually a percentage of the sale price.

Due-on-sale

Clause in a note or mortgage giving the lender the right to call the entire loan balance due if the property is sold or otherwise conveyed.

Glossary 2.7 uses technologies including PHP and SQL

My Veterans Account