Panama City Real Estate Glossary
Glossary - D
An amount owed to another. See installment loan and revolving liability.
The legal document conveying title to a property.
A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure. Also called a "voluntary conveyance."
Deed of trust
The document used in some states instead of a mortgage; title is conveyed to a trustee.
An imposed restriction in a deed that limits the use of the property. For example, a restriction could prohibit the sale of alcoholic beverages.
Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage.
Failure to make mortgage payments when mortgage payments are due.
Transfer something from one entity to another.
A sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan. See earnest money deposit.
Characteristics of human populations as defined by population size and density of regions, population growth rates, migration, vital statistics, and their effect on socio-economic conditions.
A decline in the value of property; the opposite of appreciation.
The percentage rate at which money or cash flows are discounted. The discount rate reflects both the market risk-free rate of interest and a risk premium. Also see opportunity cost.
The process of reducing the value of money received in the future to reflect the opportunity cost of waiting to receive the money
The rights of a widow in the property of her husband at his death.
The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage.
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.
This terminology is usually used for second mortgages. See due-on-sale provision.
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