In real estate, Earnest Money is a deposit made by a buyer at the time an agreement of sale is signed to demonstrate good faith and serious intent to purchase the property. The funds are typically placed into an escrow account held by a neutral third party until the...

In real estate and contract law, Duress refers to unlawful pressure or constraint placed on a person that forces them to act against their free will. This pressure may involve threats, intimidation, or other improper conduct that deprives the person of the ability to...

In real estate finance, a Due on Sale Clause is a provision in a mortgage or deed of trust that allows the lender to require immediate payment of the remaining loan balance if the property is sold or transferred. This clause prevents a borrower from transferring the...

In real estate, Dual Agency occurs when a single real estate agent or brokerage represents both the buyer and the seller in the same transaction. In this situation, the agent works with opposing principals at the same time and owes fiduciary duties to both parties....

In real estate, a Down Payment is the portion of the purchase price that a buyer pays in cash from their own funds rather than borrowing through a loan. It is paid at or before closing and represents the buyer’s initial equity in the property. The amount of the down...

In real estate, a Donor is a person or entity that voluntarily transfers ownership of real property to another party as a gift, without receiving consideration in return. The donor initiates the transfer, typically by executing a deed that conveys title to the...

In real estate, a Donee is a person or entity that receives property as a gift, rather than through a sale or exchange for value. The transfer is made voluntarily by the owner, known as the donor, and typically occurs through a deed that conveys title without...

In real estate and legal contexts, Domicile refers to a person’s legal residence, the place where an individual has their permanent home and to which they intend to return, even if they are temporarily living elsewhere. A person may have multiple residences, but only...

In real estate, a Documentary Transfer Tax is a tax imposed on the transfer of real property, authorized by state law and administered by counties or local jurisdictions. When a property is sold or otherwise conveyed, the tax is calculated based on the property’s sale...

In real estate, a Distress Sale refers to the sale of property by an owner who is under significant financial or personal pressure to sell quickly. This pressure may result from circumstances such as foreclosure, default, bankruptcy, divorce, job loss, or inability to...