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6/29/2012

Glossary Letter D

http://www.amazon.com/Toxic-Assets-Bank-ebook/dp/B004RCLZXI


Glossary for REAL ESTATE TERMS, prepare for the broker DRE exam
Letter D


DATA PLANT

Appraiser’s file of information on real estate

DEBENTURE

Bonds issued without secuirty

DEBTOR

The party owning the property that is subject to a security interest- mortgagor or pledgor

DEDICATION

Appropriation of land by its owner for some public use by authorized officials on behalf of the public

DEED

Instrument when properly executed and delivered conveys title

DEED RESTRICTION

Limitation in the deed to a property that dictates certain uses that may or may not be made to the property

DEFAULT

Failure to fulfill a duty or promise, omission or failure to perform any act

DEFEASANCE CLAUSE

Mortgage clause that gives the mortgagor the right to redeem his or her property upon the payment of obligations to the mortgagee

DEFEASANCE FEE

Sometimes called a base fee or qualified fee, a fee- absolute interest in land that is capable of being defeated or terminated upon the happening of a specified event

DEFICIENCY JUDGMENT

Judgment when the security pledge for a loan does not satisfy the debt upon its default

DEPTH TABLE

Statistical table used to estimate the value of the added depth of a lot

DESIST AND REFRAIN ORDER

Court order to stop a person from committing and act in violation of real estate law

DEVISEE

One who receives a bequest made in a will

DEVISOR

Person who bequeaths by will

DIRECTIONAL GROWTH

The location or direction toward which the residential sections of a city are destined and determined to grow

DISINTERMEDIATION

A sudden rush of withdrawals from savings banks, commercial banks, and life insurance policies. Financial intermediaries who depend on the regular savings lose billions of dollars as owners of those funds held by institutional lenders exercise their right to remove the money.

DISPOSSESS

To deprive one of the use of real estate

DOCUMENTARY TRANSFER TAX

A state enabling act that allows a county to adopt a documentary transfer tax to apply to all transfers of real estate in the county. Notice of payment is entered on the face of the deed or on a separate paper filed together

DONEE

A person to whom a gift is made

DONOR

The person who makes the gift

DOWER

The right a wife has in her husband’s estate at his death

DUAL AGENCY

When a broker represents both the buyer and seller






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