Decree: A court judgment that delineates the rights and agreement between two parties.
Deed: The official document that represents ownership of a property. When property is sold, it is transferred from one owner to the other.
Deed Book: A place where deeds are recorded in public records, namely a book.
Deed of Re-conveyance: Is a written document that is issued when a Deed of Trust (or mortgage) has been paid off to formally close it.
Deed of Trust: A legal document issuing a trustee a land title as security for a loan between a lender and borrower. It contains all the mortgage information, such as property, loan amount, borrower, etc.
Default: Failure to pay an obligation when it is due or failure to fulfill a promise.
Defect: A title that is irregular and faulty such that it contains a blemish, imperfection or deficiency.
Deposit Receipt: A document whereby a seller is accepting earnest money from a potential buyer as a binding promise to adhere to a price and contract terms for a property.
Depreciation: Loss in value as a result of the elements, wear and tear, and functional or economical obsolescence.
Desk Fees: A fee charged by a brokerage or real estate company for the use of a desk by a real estate agent.
Destination Services: Services provided to the transferees upon arrival at the new location, such as school searches, temporary housing, etc.
Direct Home-Selling Costs (DHSC): Carrying costs, commission, closing costs, interest on equity loans, loss on sale, principal, taxes and insurance, repairs and improvements, and utilities.
Disclosures: Requirements of disclosure at the local, county, state, and federal level made by the seller and acknowledged by the buyer.
Discount Points: The difference between the loan yield and the investment value of the money, expressed as a percentage, payable to the lender. One point equals one percent of the loan amount.
Divorce: A court decree entirely dissolving the legal relationship of a husband and wife; the granting of a legal separation.
Document Preparation: The creation of all paperwork needed to consummate a real estate transaction.
DOM: Acronym for Days on Market. See Days on Market.
Down Payment: The cash amount a borrower places towards a property purchase.
Drive-by: The physical act of a real estate agent or broker driving past a potential or existing listing.
Dual Agent: An agent who is required to hold a state license, acting on behalf of both the buyer and the seller in a single real estate transaction.
Due On-Sale Clause: A provision that accelerates the full payment of the mortgage or deed of trust when the secured property changes ownership.