FIND THE DEFINITION FOR ANY REAL ESTATE TERM

Click on the letters above for terms beginning with that letter, and then click on the term below.

Don’t see a term here? Feel free to ask us. (Unfortunately, however, we cannot give you real estate or legal advice.)

DATUM – A point, line or surface from which elevations are measured.

DEBIT – Funds or monies that are owed by a buyer or seller at settlement. Listed by item on a settlement sheet.

DEBTOR – A party that owes a debt.

DECEDENT – One who has died, a deceased person.

DEDICATION – A gift of real property to a government entity. Always done during the grantor’s lifetime and always given by deed.

DEED – A written document, which transfers legal title to real property from one party to another.

DEED IN TRUST – A document used to create a trust, whereby a TRUSTOR places property in the hands of a TRUSTEE to manage on behalf of the Trustor or for a BENEFICIARY. Also called a TRUST DEED. Not the same thing as a DEED OF TRUST.

DEED OF TRUST – A document used in place of a mortgage, pledging a property as security for a loan. Title to the property would be held by a third party (the TRUSTEE), aside from the borrower (the TRUSTOR) and the lender (the BENEFICIARY). Also called a TRUST DEED or TRUST INDENTURE. Not the same thing as a Deed IN Trust.

DEPOSIT – Money paid up front to demonstrate a sincere interest in honoring a contract.

DORMER – A protrusion extending out from a sloped roof, normally with a window.

DOWNPAYMENT – Money paid towards the purchase price of the house, to cover the amount of the purchase price not covered by a loan. Normally paid at settlement.