REAL ESTATE 101

Real Estate Glossary - D

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Debt Equity Ratio
A comparison of the amount owing on a property with the equity (value of property minus amount owing).

Debt-service Ratio
The percentage of the borrower's gross income that will be used for monthly payments of principal, interest, taxes, space heating costs and condominium fees.

Deed
The instrument by which title to property is conveyed from one person to another.

Default
Non-payment of the installments due under the terms of the mortgage(s). Failure to abide by the terms of a mortgage loan agreement

Department of Housing and Urban Development (HUD)
A United States Federal Agency that focuses on programs regarding housing and renewal of city communities. Oversees the Federal Housing Administration.

Discharge
The removal of all mortgages and financial encumbrances on a property.

Dual Agent
A real estate broker or salesperson who acts as agent for both the seller and the buyer in the same transaction. Both buyer and seller are the agent's clients.

Duplex
A building which houses two separate dwelling units.

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