Real Estate Glossary

Letter D

Dado(1) To secure by setting in a groove. (2) To make a rectangular groove in a board or plank.

DaleA valley between hills or other high ground.

DamAn earthen, metal, masonry, or wooden wall or barrier across a flow of water, which is used to restrict or prevent the water from flowing.

Damages(1) Money recoverable by one suffering a loss or injury. (2) The loss of value to property adjoining a property taken in condemnation proceedings, rather than the value of the property taken.

DamperAn adjustable plate in the flue of a fireplace or furnace, which is used to control the draft from the flames.

Dark Store ClauseA clause usually found in a retail store percentage lease stating that the tenant must stay open for business at the site for the full term of the lease, and limits the tenant's right to open a competitive business.

Data PlantInformation on real property, filed and held by an appraiser, lender, etc.

Dated DateIndicates the date a document was executed (signed), rather than the date of recording (recording date).

DatumA horizontal plane from which heights and depths are measured.

Datum LineA horizontal line from which heights and depths are measured. Varies with the area but is usually set forth in the local building code.

DBADoing business as

DBA (Doing Business As)An identification of the owner or owners of a business and the business name. Not a partnership or corporation.

DeLatin for of; by; from; concerning.

Dead-End StreetA street having ingress and egress at one end only. Differs from a cul de sac in that the dead-end street does not have an enlarged area at the closed end for U turns.

Dead Load(1) Most commonly, the weight of a truck, exclusive of cargo. (2) The weight of a building or other structure, including furnaces, air conditioning units, elevators, and other permanent machinery, but not furniture, people, or inventory of a business in the structure.

Dead RentA term used in mining to indicate the fixed annual rent, exclusive of royalties. In commercial percentage leases, usually called minimum rent or base rent.

DealerOne who buys and sells real estate as a business, as opposed to an investor. The importance of the term is for tax purposes. If IRS determines that a taxpayer is a dealer, said taxpayer will not be allowed the capital gains benefits of an investor, but will be taxed at ordinary income rates. The term applies to the transactions more than the person. One may be a dealer in certain transactions and an investor in others.

DeamortizationA term used to describe a loan with payments that begin at less than interest only.

Death RateNumber of deaths in a given area in a given time. Based on a per 100 or per 1000 population.

DebentureA note or bond given as evidence of debt and issued without security

Debenture BondSee: Debenture.

Debenture StockSee: Debenture .

DebitAn accounting term used to designate a payment or owing, as opposed to a credit which is a receiving or being owed.

Debt Equity RatioThe ratio of the mortgage balance to the owner's equity.

Debt FinancingBorrowing money rather than selling ownership interests (equity financing). For example: A corporation would get a loan or issue bonds as a means of debt financing. The corporation would issue stock or use retained earnings as a means of equity financing.

DebtorOne who owes a debt.

Debtor's PositionValue of property over the amount of mortgages. Commonly called the equity.

Debt RatioThe ratio, expressed as a percentage, of a borrower's monthly expenses to gross monthly income. There are two ratios. The first is the expense of the property to income. This includes the mortgage payment, taxes and insurance. The second is the total expense to income. This includes car payments, credit card payments, etc. Acceptable numbers for almost any loan would be 25% property expense to income and 35% total expense to income. The percentages may be much higher, especially for a hard money mortgage.

Debt Service(1) The periodic payment of mortgages or trust deeds on a specific property. (2) The interest payments of said mortgages or trust deeds. (3) Sometimes loosely used for the total amount owing on said mortgages or trust deeds.

Debt-To-Income RatioSee: Debt Ratio.

DecedentOriginally, one who was dying. Modernly, one who is dead.

DecentralizationThe movement of people and businesses from a central area (a city or downtown area) to more scattered positions (surrounding suburbs).

DecibelA unit of measurement for sound or noise levels. Some states require a builder to make a purchaser aware of the noise level in given areas (usually near airports).

Deciduous TreesThose which shed their leaves or fruit at seasonal intervals.

DeckAny flat surface which resembles the deck of a ship, and is not enclosed. A flat area on a roof, roof of a porch, etc.

Deck PaintAn exterior paint having a high resistance to wear, and used in areas of heavy use, such as a porch.

Deck RoofA flat roof without parapets.

DeclarationSee: Declaration of Restrictions; Restriction; Condo-minium Map.

Declaration Of HomesteadSee: Homestead.

Declaration Of RestrictionsA set of restrictions filed by a subdivider to cover an entire tract or subdivision.

Declaration Of TrustA written acknowledgement by one holding legal title to property that the property is held in trust for the benefit of another.

Declaratory JudgmentA determination by a court as to the legal rights of the plaintiff, with no order for relief. The judgement is binding on future litigation.

Declining Balance MethodAn accounting method of calculating depreciation for tax purposes designed to provide large deductions in the early years of ownership.

Declining Balance Method Of DepreciationDepreciation by a fixed annual percentage of the balance after deducting each yearly depreciation amount.

DecorateTo adorn or add to the beauty of something. Connotes only superficial changes, but in some areas, is used to indicate major repair.

DecreeThe judgment of a court.

Decree Of DistributionThe final determination of the rights of heirs to receive the property of an estate.

DedicatedProperty given by an owner for public use.

DedicationThe giving by an owner of private property for public use, and the acceptance by the proper public authority. Most commonly the dedication by a builder of the streets in a subdivision.

DeductibleA dollar amount the insured must pay on each loss. The insurance company pays the remainder of each covered loss up to the policy limits

Deed BookSee: Liber.

Deed In LieuSee: Deed in Lieu of Foreclosure.

Deed In Lieu Of ForeclosureA process by which the mortgagor can avoid foreclosure. Mortgagor gives a deed to mortgagee when mortgagor is in default according to terms of mortgage.

Deed Of ReconveyanceThe instrument used to reconvey title to a trustor under a deed of trust once the debt has been satisfied.

Deed PollThe common form of deed executed by the grantor(s) only. When the grantee(s) also execute the deed (perhaps to accept certain restrictions or liens), it is an indenture deed (see which).

Deed RestrictionsThe clauses in a deed limit the future users of the property. Deed restrictions may impose a variety of limitations and conditions, such as limiting the density of buildings, dictating the types of structures that can be erected, and preventing buildings from being used for specific purposes or from being used at all.

Default JudgmentA judgment entered against a party who fails to appear in court at the scheduled time.

Default RatioThe point at which income producing property fails to carry itself (pay operating expenses and mortgage payments). It is determined by the ratio of occupied units to total units.

Defeasance ClauseA clause used in leases or mortgages that cancels a specified right on the occurrence of a certain condition, such as cancellation of a mortgage on repayment of the mortgage loan.

Defeasance DeedA deed, made collaterally with a conveyancing deed, which imposes conditions which, if met, will defeat the conveyance.

Defeasible Fee EstateA qualified estate in which the grantee could lose his or her interest upon the occurrence or non-occurrence of a specified event. There are two types of defeasible fee estates: (1) Those known as a condition subsequent where the possibility of re-entry takes place, and (2) A qualified limitation, where the grantee's ownership automatically ends with the possibility of reverter (otherwise known as a fee simple determinable). The words as long as, while, or during are key to creating a qualified limitation defeasible fee estate.

Defeasible TitleTitle which is not absolute but possibly may be annulled or voided at a later date. For example: Title conveyed to A with condition that if A marries before age 30, title will go to B. A's title may be good (doesn't marry) or may be defeated (marries before 30).

Defective Title(1) Title to a negotiable instrument obtained by fraud. (2) Title to real property which lacks some of the elements necessary to transfer good title.

DefendantThe person against whom a civil or criminal action is brought.

DefermentPermission to delay fulfillment of an obligation (e.g., paying taxes) until a later date.

Deferred ExchangeA process whereby the taxpayer sells the relinquished property and purchases the replacement property at a later date. The process must conform to the rules of IRS code section 1031 in order to gain the tax benefits. See also: Concurrent Exchange; Reverse Exchange.

Deferred InterestInterest that is postponed (deferred) until a later date. This would occur if a borrower was paying less than interest only on a loan.

Deferred MaintenanceRepairs necessary to put a property in good condition. A concern of a purchaser. An owner may have an account for such maintenance.

Deferred Payment Loans (DPL)Reverse mortgages that give the borrower a lump sum of cash to repair or improve a home; usually offered by state or local governments.

Deferred Payments(1) Payments to begin at a future time. (2) Installment payments.

Deficiency JudgmentA personal judgment levied against the mortgagor when a foreclosure sale does not produce sufficient funds to to pay the mortgage debt in full.

DeflationA decrease in the supply of money and credit. The value of money is increased in relation to what it will buy (price drop). Opposite of inflation.

Degree(1) A geometric measure. 360 degrees makes a circle; 180 degrees a straight line; 90 degrees a right angle, etc. Used in metes and bounds descriptions to show the direction the boundaries follow. A degree is itself divided by minutes and seconds, 60 minutes making 1 degree, and 60 seconds making 1 minute. (2) A term used in inheritance to show the closeness of blood relationships. (3) Extent, such as 1st degree murder. (4) That which is received upon graduation from school, such as a law degree.

Delayed ReconveyanceA reconveyance of a deed of trust which is issued and recorded after transfer of title and issuance of title insurance (not showing the deed of trust). Usually occurs when the lender is in another state and will not issue the reconveyance until paid in full.

Delegate (delegatee)One to whom a duty under a contract is transferred.

DelegationThe transfer of a duty under a contract. The opposite of assignment, which is the transfer of a right.

DelegatorOne who transfers a duty under a contract.

Delinquent TaxesUnpaid taxes that are past due.

DeliveryThe legal act of transferring ownership. Documents such as deeds and purchase agreements must be delivered and accepted to be valid.

Delivery And AcceptanceDelivery of the deed by the grantor with the intention of transferring title and acceptance by the grantee receiving the land. When a deed has been properly executed, both have occurred.

Delivery In EscrowDelivery of a deed to a third person until the performance of some act or condition by one of the parties.

Delta(1) The Greek letter used to symbolize a change in percentage. When capitalizing yield for valuation of income property, it represents the anticipated percentage change in the value of the property over the period projected. (2) The land formed at the mouth of a river where it meets tidal water.

DemandThe willingness of persons to buy available goods at a given price; often coupled with supply.

Demand DepositAny deposit which may be withdrawn upon demand. For trust funds, non interest bearing deposits.

Demand InflationToo much money chasing too few goods. Compare: Cost Inflation.

Demand NoteA note having no date for repayment, but due on demand of the lender.

Deminimis PudA planned unit development having very limited common area.

DemiseA lease or conveyance for life or years. Loosely used to describe any conveyance, whether in fee, for life, or for years.

Demising WallA wall separating tenants in the same building.

DemographicsStatistics. Commonly refers to statistical information required by certain businesses (especially chain stores) regarding a possible new location.

DemographyStudy of the social and economic status of a given area or population.

DemurrerA legal term whereby one party states that even if the other party's facts or allegations are true, there is still no cause of action.

Density(1) The degree of crowding together of people or buildings. (2) Weight or thickness.

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

Department Of Housing And Urban Development (HUD)The government agency charged with overseeing housing related issues and projects. Among other things, HUD sets minimum building standards for housing and is responsible for enforcing the federal Fair Housing Act.

Department Of Real EstateThat department of the state government responsible for the licensing and regulation of persons engaged in the real estate business. The person heading the department is usually called The Real Estate Commissioner. Other names for the department are The Division of Real Estate and The Real Estate Commission.

Department Of Veterans AffairsFormerly the Veterans Administration.

DepletionThe reduction or exhaustion of an asset, such as a wasting asset, and its corresponding loss of value.

Depletion RatePercentage of the total amount of a wasting asset (oil, minerals, etc.) to be mined, drilled or otherwise used yearly.

DeponentOne who makes a sworn written statement (deposition). If the statement is an affidavit, the maker is called and affiant.

DepositionTestimony of a witness taken under oath outside of court.

Deposit ReceiptSee: Purchase Agreement.

Depot(1) A railroad or bus station. (2) Any place used for the storage and protection of goods.

Depreciable LifeA tax term meaning the number of years used to determine depreciation of an asset (generally a building). The time used is determined by the local IRS office under general guide lines.

Depreciable PropertyProperty on which a useful life can be determined for depreciation. For example: A building is depreciable (has a lifetime) but the land under it is not (lasts forever).

DepreciateTo decline in value.

Depreciation MethodsAccounting methods to compute the decrease in value of an improvement.

Depreciation ReserveAn account for the amount needed for depreciation caused by time and use of equipment, buildings, etc. Common in accounting of public utilities.

DepressionThe bottom of a business cycle, when production, prices, and purchasing, are usually low, and unemployment is high.

Depth CurveAn appraisal graph showing the increase or decrease in value of lots of equal front footage, as the depth increases or decreases (depth factor).

Depth FactorThe increase or decrease of the value of a lot as the depth increases or decreases; the frontage remains the same.

DeraignTo displace, as by proving something to be false.

DerelictDry land that is exposed by a change in the water line.

DerelictionThe changing of the water line that exposes dry land.

DerogA slang shortening of the word derogatory. Used in reference to information on a credit report.

DescentThe hereditary succession of an heir to the property of a relative who dies intestate.

DescriptionSee: Legal Description.

DesignA plan of a structure, encompassing all phases of its appearance and function.

Designated AgencyWhen a supervising broker assumes the role of dual agent and each affiliated licensee represents his client as vigorously as possible.

Designated HeirChosen heir. By filing a document with probate court, a person can choose anyone to be his heir in the eyes of the law.

Designed AgencyAn agency relationship where a client designates a broker to appoint an office agent to singularly represent his or her interest to the exclusion of all of the other agents in the broker's office.

Desist And RefrainTo stop doing what one is doing, and not to start doing it again in the future. The real estate commissioner in some states has the power to issue a desist and refrain order when real estate laws are violated.

Desktop AppraisalAn appraisal done from the appraiser's desk without a physical inspection of the property. The appraiser uses comparables to estimate value. Usually used for loan rather than sale transactions. The appraisal may sometimes be labeled as a desktop appraisal even if the appraiser has physically inspected the property.

DetachedNot connected to. A house with a detached garage, for example, would have no direct access from one to the other.

DeteriorationA gradual wearing away of a structure through use or exposure to the elements, rather than a sudden destruction. Also called physical deterioration.

Determinable Fee EstateA fee-simple estate in which the property automatically reverts to the grantor on the occurrence of a specified event or condition.

Developer(1) A builder. (2) One who prepares the raw land for construction and then sells lots to a builder.

DevelopmentA planned construction project, rather than simply the building of unrelated buildings.

Development CostSee: Off-Site Improvements.

Development LoanA loan for the purchase of land or off-site improvements, rather than building costs. The land involved is used to secure the loan.

DevestSee: Divest.

DeviseA transfer of real estate by will or last testament. The donor is the devisor and the recipient is the devisee.

DeviseeOne to whom real estate is given by will.

DevisorA testator who leaves real estate.

Diagram RulesA method of determining the boards to be produced from a log by drawing a cross section of the log, and cross sections on it of the boards to be produced, leaving between each board the width of a saw kerf.

Dike(1) A barrier erected to restrain the flow of water. A levee. (2) a ditch or channel for water.

DiluviumA deposit of land produced by a flood.

Dimension LumberLumber cut to commonly used sizes or cut to a custom order.

Diminishing AssetsSee: Wasting Assets.

Diminishing ReturnsThe principle that applies when a given parcel of land reaches its maximum percentage return on investment, and further expenditures for improving the property yield a decreasing return.

Direct CompensationSee: Compensation.

Direct CostThe cost in labor and materials.

Direct CostsConstruction costs not including overhead.

Direct DeedingA process whereby the parties to a 1031 exchange deed directly to each other rather than to the accommodator. The process must conform to the rules of IRS section 1031 in order to obtain the tax advantages.

Direct EndorsementA program allowing private lenders to process and endorse FHA loans. The lender must first be approved by FHA.

Direct Expense EscalationSee: Escalation Clause(3).

Direct IndexAn index kept by the county recorder, with each recorded document listed in alphabetical order according to grantor's last name. Also called: Grantor/Grantee Index.

Directional GrowthThe path of growth of an urban area. Used to determine where future development will be most profitable.

Direct LossReferring to homeowner's insurance, a sudden loss due to a covered peril—such as fire, lightening, wind, hail, etc.

Direct Reduction MortgageAn amortized mortgage. One on which principal and interest payments are paid at the same time (usually monthly) with interest being computed on the remaining balance.

Direct Steam SystemA radiator system fed from a steam boiler.

DisabilityA physical or mental impairment that substantially limits or curtails one or more major life activity.

DisaffirmThe act of asking a court to terminate a voidable contract.

DisbursementsPayments made during the course of an escrow or at closing.

DischargeSee: Release.

Discharge Or Release From The MilitaryTo be eligible for a V.A. loan, a person must receive a discharge which is not a dishonorable discharge or have been eligible for such a discharge or release but not received one because of reenlistment.

Disclaimer(1) Statement in a publication attempting to limit liability in the event the information is inaccurate. (2) Renunciation of a claim or right of another. (3) Refusal to accept an estate, either as trustee or as owner.

DisclosureA form filled out by the owner of a home describing to a potential buyer any defects in the property of which the owner is aware but are not obvious to the buyer. Courts have held that owners may be liable for undisclosed defects of which they "should be aware", even if they have no actual knowledge of them.

DisclosuresPoints or facts in a real estate transaction that must be revealed.

Disclosure StatementA detailed accounting of all financials associated with a residential mortgage loan.

DiscountThe difference between face value of an installment note and mortgage or deed of trust, and the present cash value.

Discount BrokerA real estate broker charging a lower than the usual commission. The broker will have the seller take on some of the tasks normally performed by the broker, such as showing the property to prospective purchasers.

Discounted Cash FlowThe present value of future cash flow, determined by a given discount rate.

Discount FeeSee: Discount Points.

Discount PointSee: Point (1).

Discount RateThe rate of interest a commercial bank must pay when it borrows from its federal reserve bank. Consequently, the discount rate is the rate of interest the banking system carries within its own framework. Member banks may take certain promissory notes that they have received from customers and sell them to their district federal reserve bank for less than face value. With the funds received, the banks can make further loans. Changes in the discount rate may cause banks and other lenders to reexamine credit policies and conditions.

DiscriminationRefusal to sell or rent property or make a loan based on reasons forbidden by federal or state law. This can include race, gender, pregnancy, color, religion, national origin, age, disability or sexual orientation. Discrimination extends beyond real estate to areas such as hiring and firing and refusing admittance to private schools and other organizations. All the reasons above do not apply to all areas.

Disinterested AppraisalAn estimate of value of real estate by one having no personal interest in the property.

Disparate ImpactWhen a law that is not discriminatory on its face but has a greater impact on a minority group than other groups.

Disposable IncomeSee: Spendable Income.

Disposal FieldA system of clay tiles and gravel used to dispose of the waste draining from a septic tank. The percolating qualities of the soil determine the extent of the field needed. (Also, called a tile field).

DispositionThe giving up or alienating of property.

Disposition Of Real Estate StatementA statement that the buyer will occupy the property being purchased even though the buyer owns other property. The buyer states that the other property will be sold or rented. Particulars must be given as to any loan on the property and the equity or rent to payment amounts.

DispossessTo oust from land by legal process.

Dispossess ProceedingsEviction proceedings by a landlord to remove a tenant from possession because of nonpayment of rent or other breach of the rental agreement. The term is not widely used.

DisseisinA wrongful dispossession of someone seised (in rightful possession) of real property.

DissolutionA cancellation or annulment of a contract or business association, such as a partnership or corporation.

DistemperA mixing of paint with egg whites or size, to use as background decoration for a painting on a wall or ceiling.

DistraintTo take (legally or illegally) personal property and keep it until its owner performs an obligation. Commonly, a landlord taking personal property (furniture, etc.) of a tenant until rent is paid.

Distress SaleA sale of property when the seller is under extreme pressure to sell. Generally the property is sold for less than market value.

Distributed LoadWeight distributed over a surface, such as a floor, or along a beam or other support member, and measured in pounds or tons per square foot of area.

Distribution Box(1) See: Fuse Box. (2) An underground box which receives the waste from a septic tank and distributes it laterally to a disposal field.

Distribution PanelA board containing electrical circuits which distribute the main load to branch circuits.

Distribution TileTile, usually clay or cement, used in a disposal field.

DistrictAn area geographically set apart for a specific purpose, such as a congressional district or drainage district. The boundaries of one may overlap the other.

DitchA trench, natural or man made, especially when used for drainage or irrigation.

DivestTo take away. The opposite of invest.

Divided InterestDifferent estates in the same property, such as the interest of owner, lessee, mortgagee, etc.

Divided RateSee: Split Rate.

DividendA dividing into shares of a fund of money or property for distribution, as among shareholders of a corporation. The money or property distributed is the dividend.

Dividend YieldRatio of cash flow to cash invested, expressed as a percentage.

DivisaA boundary, commonly of a farm. Seldom used.

Division FenceA term used in ranching to describe the fence separating pastures.

Division Of Real EstateSee: Department of Real Estate.

Division Wall(1) A wall between two buildings, but not a part of either. (2) A wall which divides a building into rooms. Differs from a partition in that it is load-bearing.

DivorceThe legal dissolution of a marriage, leaving the parties with the results of the marriage (includes alimony, child support, property settlements, etc.) rather than an annulment which puts the parties in the position they were before the marriage.

Dock(1) A platform used for loading and unloading ships, trucks, or railroad cars. (2) A landing pier for boats. (3) The part of a courtroom where a prisoner is kept.

Doctrine Of AdvancementsSee: Advancements.

Doctrine Of EmblementsRule that allows an agricultural tenant to re-enter the land to harvest crops if the lease ends, through no fault of the tenant, before the crop can be harvested (applies only to the first crop).

Doctrine Of LachesLoss of legal rights because of failure to assert those rights in a timely manner.

DocumentSee: Instrumen.

Documentary Tax StampsStamps, similar to postage stamps, affixed to a deed, showing the amount of transfer tax paid. Most states now "stamp" the deed rather than actually affixing a stamp.

Documentary Transfer TaxA state tax on the sale of real property, based on the sale price or equity transferred, being $ .55 for each $500 of the taxable amount in most states. Some states use $1.10 per $1000; $ .50 per $500; $1.00 per $1000.

Document Preparation FeeA charge by an escrow agent, attorney or other person for preparing the documents for a sale or loan.

DogA mechanical device for holding logs together in a logging operation; usually has some type of claw which penetrates the wood.

Dolphin(1) A bumper around a boat to prevent damage. (2) A buoy with a ring for mooring.

Domestic Corporation(1) Refers to a state rather than a county. For example: In Delaware, a corporation organized under Delaware law would be a domestic corporation. In New York, a corporation organized under Delaware law would be a foreign corporation (foreign to New York). See also: Corporation. (2) In international terms, refers to the country in which the corporation is based. In the U.S., for example, U.S. based corporations are domestic.

Domicile(1) A legal term signifying a place where a person has his permanent home. The most accurate meaning is the layman's understanding of the place where a person "lives", since this takes into consideration the intent of the person to make a particular property his "home". (2) The state or country in which a corporation is chartered (organized), such as a corporation "domiciled" in the U.S.

Dominant TenantA person with easement rights on another's property; either the owner of a dominant tenement, or someone who has an easement in gross.

Dominant TenementA property that includes in its ownership the appurtenant right to use an easement over another's property for a specific purpose.

Donative IntentIntent to immediately and unconditionally transfer title to real property.

DoneeOne who receives a gift.

DonorOne who gives a gift.

DoorA sliding or hinged structure, covering an opening to a cupboard, closet, room, building, etc. May be used as an entrance or exit. Usually constructed of wood, glass, or metal, depending on its service.

Door BuckSee: Door Jamb.

Door JambThe members surrounding a door or door opening.

Dormer Window(1) A window which rises vertically above the roof line of a sloping roof. (2) Originally any bedroom window.

Double Declining BalanceAn accelerated method of deprecation.

Double Declining Balance Method Of DepreciationA use of the declining balance method, but with double the depreciation allowable by a straight line. An accelerated method.

Double EscrowTwo concurrent escrows on the same property, having the same party as buyer and seller of the property. Example: Escrow 1-A buys from B. Escrow 2-A sells the same property to C. A is using C's money to buy B's property. The process is illegal in many states unless full disclosure is made.

Double FloorA floor and subfloor, both of wood.

Double FramingA method of adding strength to framing by doubling the amount of structural supports.

Double Gabled RoofSee: M Roof.

Double GlazingSee: Thermal Window.

Double HouseSee: Duplex.

Double-Hung WindowA window which opens vertically from the top and bottom, containing two separate sashes with a locking device, usually at the center where the top of the lower sash meets the bottom of the upper sash.

Double PitchThe most common roof for houses, coming to a crest at the center and sloping away in two directions.

Dovetail JointA joint which interlocks in a zigzag pattern, similar to the tail of a dove.

DowelA cylindrical piece of wood used to join members together by fitting the ends into corresponding holes of the members.

DowerThe legal right or interest recognized in some states that a wife acquires in the property her husband held or acquired during their marriage. During the lifetime of the husband, the right is only a possibility of an interest; on his death it can become an interest in land.

DownspoutA pipe leading from the gutters of a roof to the ground and into a sewer or away from the building.

DownstrokeSlang for down payment.

Downtown(1) In a small city or town, the business area. (2) In a larger city, a business section reference to distinguish the area from midtown or uptown.

DownzoningA change in the allowable use of land by the appropriate zoning authority to a lesser (usually less valuable) use. Example: Eight units per acre to four units per acre.

Draft CurtainsFire retardant partitions (usually of sheet metal or dry wall) which attach to the interior of a roof, to divide a building in order to prevent the spread of fire within the building.

Dragnet ClauseA clause in a mortgage or deed of trust which places the real estate as security for existing debts between the parties.

Drainage(1) The gradual flowing of liquid off a surface. (2) Any system to remove liquid waste or rainwater by having it flow to a designated area.

Drainage District(1) A geographical area under the authority of a single unit of local government which controls the construction and operation of the drainage systems of the area. (2) The governmental body having control over the area drainage systems.

Drainage DitchAny open water channel, natural or man made, used for drainage.

Draw(1) Portions of a construction loan, given after certain stages of completion. (2) An advance against future income.

Dredge(1) A machine which drags over the bottom of a waterway, to excavate or gather. (2) To excavate or gather by using a dredge.

DressTo finish or ornament, such as lumber, masonry, a facing of a building, etc.

Dresser Drawer TitleThe failure to record evidence of title; instead, placing it in a "dresser drawer". Also called: Trunk Title.

DriftThe stress or thrust of an arch in a horizontal direction.

Drift FenceA barrier to prevent cattle from "drifting" into an area as they graze. The fence does not form an enclosure.

Drip(1) A small pipe, used to drain larger pipes of condensation. (2) A projection from a roof edge or sill to throw off rainwater. See also: Drip Cap.

Drip CapA molding which projects from over the exterior of a door or window, forcing rainwater to drip away from the building.

Driveway(1) Commonly, a private roadway, paved or unpaved, leading from a public street to a garage or other shelter for an automobile. (2) An entrance to private land for any purpose, to be used by a motor vehicle.

Drop SidingA siding applied to the exterior of a frame structure by tongue and groove method.

DroughtLack of water due to insufficient rainfall over an extended period of time.

DrumlinA long narrow hill of glacial deposit, sometimes trapping water and so forming a swamp at its foot.

Dry MortgageA lien which places no personal liability on the mortgagor, looking only to the property for security.

Dry RotA fungal decay of seasoned wood.

DrywallGypsum plaster sandwiched between two layers of coarse paper. Also called: Plasterboard, Wall Board, or Sheetrock.

Dry-Wall ConstructionType of construction by which the interior wall is attached in a dry condition, generally as sheet materials, as contrasted to wet plaster application.

Dual AgencyThe representation of opposing principals (buyer and seller) at the same time. In brokerage many states get around this by saying that the agent aids the buyer but is the agent of the seller only. A problem arises if both buyer and seller pay the broker. Then full disclosure must be made. An escrow agent is the agent of buyer and seller and usually paid by both. This is why an escrow agent must be neutral.

Dual AgentA licensee who represents both the seller and buyer in the same transaction.

Dual LicensureWhen real estate licensees hold more than one license at a time (e.g., when a broker wishes to also be an associate broker with another firm; or, when a salesperson wishes to work with more than one broker.)

Duces Tacum(Latin: Bring With You) An order, usually a subpoena, to bring records, documents, etc. for court examination.

DuctsAny conduit holding gas, water, electrical wiring, etc., as a means of carrying said gas, water, or electricity from one place to another.

Due DiligenceInvestigation to discover facts or liabilities about a property prior to its purchase.

Due On Sale ClauseMortgage clause that prohibits assignment by making the entire mortgage balance due when property is sold.

Due-On-Sale-ClauseSee: Alienation Clause.

Due-On-Transfer ProvisionSee: Alienation Clause.

DuffOrganic matter, mostly leaves, in various stages of decomposition on the floor of a forest.

Duplex(1) Any building containing exactly two dwelling units. Most commonly refers to the units which are side by side, with a common wall and roof. (2) An apartment on two floors or levels.

DuressThe use of unlawful constraint that forces action or inaction against a person's will.

Dutch DoorA door divided horizontally into halves, each opening and closing independent of the other, or latched together to act as one door.

DVA LoanA mortgage loan on approved property made to a qualified veteran by an authorized lender and guaranteed by the Department of Veterans Affairs to limit possible loss by the lender.

Dwelling Unit (Dwelling House)The apartment, building, or group of buildings, occupied by a person as a residence.