DEED: Written instrument which when properly executed and delivered conveys title to real property from one person (grantor) to another (grantee).
DEFAULT: Failure to fulfill a duty or promise or to discharge an obligation; omission or failure to perform any act.
DEFERRED MAINTENANCE: Existing but unfulfilled requirements for repairs and rehabilitation. Postponed or delayed maintenance causing decline in a building´s physical condition.
DEPRECIATION: Loss of value of property brought about by age, physical deterioration or functional or economic obsolescence. The term is also used in accounting to identify the amount of the decrease in value of an asset that is allowed in computing the value of the property for tax purposes.
DISCOUNT POINTS: The amount of money the borrower or seller must pay the lender to get a mortgage at a stated interest rate. This amount is equal to the difference between the principal balance on the note and the lesser amount which a purchaser of the note would pay the original lender for it under market conditions. A point equals one percent of the loan.
DUAL AGENCY: An agency relationship in which the agent acts concurrently for both of the principals in a transaction.
DUE ON SALE CLAUSE: An acceleration clause granting the lender the right to demand full payment of the mortgage upon a sale of the property.