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Term		Description
Damages		The indemnity recoverable by a person who has sustained an injury either in his person, property or relative rights, through the act or default of another.
Debt		An amount owed to another.
Deed in Lieu of Foreclosure		A deed to real property accepted by a lender from a defaulting borrower to avoid the necessity of foreclosure proceedings by the lender.
Deed of Trust (Deed)		A legal document used to transfer real estate to a trustee, like a mortgage. Allows for foreclosure without the necessity of a lawsuit. In some states you do not get the deed until the house is paid off. In other states, you get the deed right away.
Deed, Gift		A deed for which the consideration is love and affection and where there is no material consideration. (See also: Deed)
Deed, Grant		A technical legal term in a deed of conveyance bestowing an interest in real property on another. The words "convey" and "transfer" have the same effect. (See also: Deed)
Deed, Warranty		A deed that contains promises against any other claims to title on the property. It is the most protective of a potential buyer. It is not used in some states since title insurance has reduced its importance.
Default		Failure to fulfill a duty or promise or to discharge an obligation, or to perform any act in an instrument in writing, that has been agreed upon.
Deferred Maintenance		Existing but unfulfilled requirements for repairs and rehabilitation.
Deficiency Judgment		A judgment given when the security pledged for a loan does not satisfy the debt upon its default.
Delinquency		Failure to make mortgage payments when mortgage payments are due. For most mortgages, payments are due on the first day of the month. Even though they may not charge a "late fee" for a number of days, the payment is still considered to be late and the loan delinquent. When a loan payment is more than 30 days late, most lenders report the late payment to one or more credit bureaus.
Deposit		A sum of money given in advance of a larger amount being expected in the future. Often called in real estate as an "earnest money deposit".
Depreciation		Loss of value in real property brought about by age, physical deterioration, functional, or economic obsolescence. (See also: Straight Line Depreciation)
Deterioration		Reflecting the loss in value brought about by wear and tear, disintegration, use in service, and the actions of the elements.
Discount Fee or Discount Points		A fee charged by the lender in order to obtain a higher earning than the interest stated in the mortgage note. In some cases discount points can be tax deductible. This is especially true for first time home buyers.
Documentary Transfer Tax		A state enabling act allows cities and counties to adopt a documentary transfer tax to apply on all transfers of real property located within their jurisdictions. Duress - Unlawful constraint exercised upon a person whereby he is forced to do some act against his will.
Down Payment		The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage.
Dual Agent		A real estate broker or agent representing both the buyer and the seller. Even though two real estate agents may be involved, if they work for the same broker, a dual agency situation may arise. The real estate agents should advise you when this is the case.
Due Diligence		A buzz word in real estate that refers to researching the risks of the real estate deal. Used frequently when talking about purchasing real estate that may contain environmental risks.
Due-On-Sale Provision		A provision in a mortgage that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the mortgage.
Duress		Unlawful constraint exercised upon a person whereby he is forced to do some act against his will.
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