Business / Real Estate Glossary

Density Zoning: Zoning ordinances that restrict the maximum average number of houses per acre that may be built within a particular area, generally a subdivision.

Deposit: Money offered by a prospective buyer as an indication of good faith in entering into a contract to purchase, earnest money, security for the buyers performance of a contract. An earnest mone . . . View Full Definition

Depreciable Basis: In investment real estate only structures can be depreciated. The depreciable basis is the original basis less the value of the land.

Depreciation: The decrease in the value of an asset allowed when computing property value for tax purposes. It can also be a loss in the appraised value of a property due to physical deterioration. This l . . . View Full Definition

Descent: Acquisition of an estate by inheritance in which an heir succeeds to the property by operation of law.

Designated Agent: A licensee authorized by a broker to act as the agent for a specific principal in a particular transaction. A designated agent is the only agent in the company who has a fiduciary responsibi . . . View Full Definition

Destruction Of Premises: In many states, once the sales contract is signed by both parties, the buyer bears the risk of any damage to the property that may occur before closing. Of course, the contract may provide otherwise.

Detached Garage: A garage that is not attached to a home. Usually found in older homes.

Deviation: The measure of how widely the individual varies from the general population.

Devise: A transfer of real property under a will. The donor is the devisor, and the recipient is the devisee.

Devisible Contract: A contract that consists of separate agreements that are not dependent on each other. The illegality of one part will not void the balance of the contract.

Direct Endorsement: The ability of an FHA-approved lender to secure FHA single- and multifamily mortgage insurance by following FHA guidelines. Under a direct endorsement program, applications for many of FHAs . . . View Full Definition

Direct Management Costs: Expenses that can be attributed to the operation of a management firm or department.

Disability: A physical or mental impairment that substantially limits one or more major life activities, such as walking, seeing, learning and working. Disability includes a record of such impairment or . . . View Full Definition

Discharge: The release of any waste into the environment from a point source. Usually refers to the release of a liquid waste into a body of water through an outlet such as a pipe, but also refers to a . . . View Full Definition

Discharge Of Contract: A contract is discharged when the agreement is terminated. Obviously, the most desirable case is when a contract terminates because it has been completely performed, with all its terms carri . . . View Full Definition

Disclaimer: A statement denying legal responsibility, frequently found in the form of the statement, There are no promises, representations, oral understandings or agreements except as contained herein. . . . View Full Definition

Disclosed Dual Agency: Real estate licensing laws may permit dual agency only if the buyer and seller are informed and consent to the brokers representation of both in the same transaction. Although the possibilit . . . View Full Definition

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82