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D
There are 22 entries in the definition.
Pages: 1
Term Definition
DebtMoney owing from one person to another.
 
DebtorOne who owes a debt.
 
Decree of DistributionA probate court decree which determines how the estate of a decedent shall be distributed.
 
DedicationThe setting aside of certain land by the owner and declaring it to be for public use. Examples: streets, sidewalks and parks.
 
DeedA formal written instrument by which title to real property is transferred from one owner to another. The deed should contain an accurate description of the property being conveyed, should be signed and witnessed according to the laws of the State where the property is located, and should be delivered to the purchaser at closing day. There are two parties to a deed: the grantor and the grantee. (See also deed of trust, general warranty deed and quitclaim deed.)
 
Deed in lieuA means of escaping an overly burdensome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will accept ownership of the property in place of the money owed on the mortgage. Even if the lender won't agree to accept the property, the homeowner can prepare a quitclaim deed that unilaterally transfers the homeowner's property rights to the lender. 
 
Deed of EasementA document in which the owner of real estate gives another the right to use his land for a special purpose such as access across one's property to get to another’s property.
 
Deed of GiftA deed executed and delivered without consideration (payment).
 
Deed of ReleaseA document, in the form of a Deed in which one who has limited rights to a piece of real estate (usually a Mortgagee or Lienholder) abandons those rights back to the owner of the real estate; often takes the form of a Quitclaim Deed.
 
Deed of TrustLike a mortgage, a security instrument whereby real property is given as security for a debt. However, in a deed of trust there are three parties to the instrument: the borrower, the trustee and the lender (or beneficiary). In such a transaction, the borrower transfers the legal title for the property to the trustee who holds the property in trust as security for the payment of the debt to the lender or beneficiary. If the borrower pays the debt as agreed, the deed of trust becomes void. If, however, he defaults in the payment of the debt, the trustee may sell the property at a public sale, under the terms of the deed of trust. In most jurisdictions where the deed of trust is in force, the borrower is subject to having his property sold without benefit of legal proceedings. A few States have begun in recent years to treat the deed of trust like a mortgage.
 
Deed RestrictionsLimitations in the deed to a property that dictate certain uses that may or not be made of the property.
 
Defective Title(1) Title to a negotiable instrument obtained by fraud. (2) Title to real property which lacks some of the elements necessary to transfer good title.
 
DeliveryIn conveyancing, the placing of the property in the actual or constructive possession of the grantee. Usually accomplished by delivery of a deed to the buyer or agent of the buyer, or by recording the deed. The transfer of a deed from seller to buyer in such a manner that it cannot be recalled by the seller. A necessary requisite to the transfer of title.
 
Demand NoteA note having no date for repayment, but due on demand of the lender.
 
Deposit(1) Money given by the buyer with an offer to purchase. Shows good faith. Also called earnest money. (2) A natural accumulation of resources (oil, gold, etc.) which may be commercially recovered and marketed.
 
DepreciationLoss in value occasioned by ordinary wear and tear, destructive action of the elements, or functional or economic obsolescence.
 
DescriptionThe exact location of a piece of real property stated in terms of lot, block, tract, part lot, metes and bounds, recorded instruments, or U.S. Government survey (sectionalized). This is also referred to as legal description of property.
 
DeviseA disposition of property made by a will.
 
Documentary StampsA State tax, in the forms of stamps, required on deeds and mortgages when real estate title passes from one owner to another. The amount of stamps required varies with each state.
 
Dominant EstateThe property for the benefit of which a right-of-way easement exists across another's adjoining piece of land is said to be the dominant estate. The land across which the easement runs is said to be the servient estate.
 
DowerA right that a wife has in her husband's property at the time of his death. Does not exist in all states.
 
Due on Sale ClauseProvision in a mortgage or deed of trust which requires loan to be paid in full if property is sold or transferred. 
 


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