Key Real Estate Terms D | Myers & Myers Real Estate

Definitions Of Key Real Estate Terms D

This article provides the definitions of key estate terms beginning with the letter D.

Debt Coverage Ratio

is the ratio of annual net income to annual debt service.

Debt Service

is the amount of money needed to meet the periodic payments of principal and interest on a loan or debt that is being amortized.

Debt to Equity Ratio

is the relationship of the total loan owed to the lender and the invested capital of the owner

Deed

is a written instrument  by which a property owner as grantor conveys and transfers it a grantee an ownership interest in real property.

Deed In Lieu of Foreclosure

is a deed given by the mortgagor to the mortgagee when the mortgagor is in default under the terms of the mortgage.  This is way for the mortgagor to avoid foreclosure.

Deed Restrictions

are clauses in a deed limiting the future uses of the property.

Default

is the nonperformance of a duty whether arising under a contract or otherwise, failure to meet an obligation when due.

Defeasance Clause

is a clause used in leases and mortgages that cancels a specified right upon the occurrence of certain condition, such as cancellation of a mortgage upon repayment of the mortgage loan.

Deficiency Judgment

is a personal judgment levied against the borrower when a foreclosure sale does not produce sufficient funds to the pay mortgage debt in full.

Depreciation

1) in appraisal, a loss of value in property due to any cause. 2) In real estate investment, an expense deduction for tax purposes taken over the period of ownership of income property.

Developer

is one who attempts to put land to its most profitable use through the construction of improvements such as commercial condominiums or subdivision projects.

Devise

is a gift of real property by will. The donor is the devisor and the recipient is the devisee.

Disclosure

is to reveal, make known.

Discount Point

is a unit of measure used for various charges, one point equals one percent of the amount of the loan.

Distressed Property

is property that brings an insufficient return to the owners or is in difficulty for other reasons.  Sometimes it is a property that must be sold due to a pending foreclosure.

Down Payment

is the amount of cash a purchaser will pay at the time of purchase.

Dual Agency

is representing both parties to a transaction.  This is unethical unless both parties agree to I and it is illegal in many state.

Due on Sale Clause

is a provision in the mortgage that states the entire balance of the note is immediately due and payable if the mortgagor transfers the property.

Duress

is unlawful constraint or actions exercised upon a person whereby the person is force to perform an act against their will.  A contract entered into under duress is voidable.

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Definitions Of Key Real Estate Key Terms D