DAMAGES
Loss incurred as a result of breach of contract or some other cause.
(See also liquidated and un liquidated damages.)
DEBIT
As a verb, to make an entry on the left or charge side of an account; as a noun, a charge or expense.
DESCENDENT
A deceased person, usually one who has recently died.
DECLARATION OF TRUST
A formal instrument filed by a business trust with the Department of State as a prerequisite for checking the trust.
DECLARATORY JUDGMENT
A course of action declaring rights claimed under a contract or statute intended to prevent loss or to guide performance by the party or parties affected.
DEDICATED LAND
An offer of land for some public use, by an owner, together with acceptance by or on behalf of the public.
DEED
A type of conveyance; a written instrument to transfer title to real property from one party to another.
DEFAULT
Failure to comply with the terms of an agreement or to meet an obligation when due.
DEFEASANCE CLAUSE
A provision in a mortgage that specifies the terms and conditions to be met in order to avoid default and thereby defeat the mortgage.
DEFECT
(SEE CLOUD ON TITLE.)
Any defect, valid claim, or encumbrance that serves to impair the title or curtail an owner?s rights.
DEFENDANT
The person or party being sued or charged.
DEFICIENCY DECREE
Judgment brought when a mortgage is foreclosed and the sale proceeds, fails to cover the costs of the sale, taxes, and the unpaid mortgage balance.
DEMAND (PRINCIPLE OF SUPPLY and DEMAND)
The quantity of goods or services wanted by customers.
DEMAND DEPOSIT
A checking account; payable on demand by holder.
DENIAL
A refusal or rejection
DENSITY
The number of lots or homes per acre.
DEPOSIT
Earnest money or some other valuable consideration given as evidence of good faith to accompany an offer to purchase or rent.
(See also binder and earnest money.)
DEPOSITION
Written testimony of a witness by oath.
DEPRECIATION
A loss in value for any reason; a deduction for tax purposes.
DESCENT
The passage of title to real property upon the death of the owner to his or her legal descendents.
DESIGNATED SALESPERSON
A single agent for different parties in the same non-residential transaction.  The buyer and seller must have assets of one million dollars or more and sign disclosures stating their assets meet the required threshold.
DEVELOPMENT OF REGIONAL IMPACT (DRI)
A large project affecting more than one county.
DEVISE
A gift of real property by will.
DEVISEE
One who receives real property under a will.
DEVISOR
One who gives real property under a will.
DISCOUNTING
A method for increasing a lender?s yield.
(See also, point, mortgage discount.)
DISINTER MEDIATION
Disengagement process when depositors withdraw money from savings for direct investment in stocks, money market funds, and other securities.
DOC STAMPS
An abbreviated term for documentary stamp.
DOCUMENT
Any written paper that provides information or evidence.
DOCUMENTARY STAMP TAXES ON NOTES, STATE
Tax required on all deeds or other documents used as conveyances.  The charge is based on the total purchase price.
DOWN PAYMENT
A portion of a purchase price paid prior to closing the transaction.  Earnest money may be part of or the entire down payment.
DRAW (INSTALLMENT)
Disbursement made by a lender to a builder.
DUAL AGENCY
Representing both principals in a transaction. (Not a legal agency relationship in Florida.)
DUE-ON-SALE-CLAUSE
A provision in a conventional mortgage that entitles the lender to require the entire loan balance to be paid in full if the property is sold.