The Real Estate
Encyclopedia: A-E

In real estate, a Deficiency Judgment is a court-ordered judgment against a borrower when the proceeds from the sale of a foreclosed property are not sufficient to fully satisfy the outstanding loan balance. After the property is sold (typically at a foreclosure sale)...

In real estate, Deferred Maintenance refers to repairs and upkeep that have been postponed or neglected over time, resulting in a property that is not in optimal condition. This can include routine maintenance items (such as roof repairs, painting, HVAC servicing, or...

In real estate, a Defeasible Fee (sometimes called a qualified fee) is an ownership interest in land that is otherwise similar to a fee simple absolute but is subject to a specific condition or event. The owner has full possessory rights to the property, but those...

In real estate, a Defeasance Clause is a provision in a mortgage or deed of trust that gives the borrower (mortgagor) the right to regain full title to the property once the loan obligations have been fully satisfied. This clause states that when the borrower pays the...

In real estate, Default refers to a borrower’s failure to fulfill the obligations set forth in a loan agreement or related legal documents. Most commonly, default occurs when a borrower fails to make required mortgage or deed of trust payments on time, but it can also...

In real estate, Deed Restrictions are private limitations placed on the use of property by the grantor and written into the deed at the time of conveyance. These restrictions control how the property may or may not be used; for example, limiting the type of structures...

In real estate, a Deed of Trust is a security instrument used to secure repayment of a loan by placing a lien on real property. It functions similarly to a mortgage but involves three parties instead of two: the borrower (trustor), the lender (beneficiary), and a...

A deed is a written legal instrument used in real estate to transfer ownership, or title, of real property from one party, known as the grantor, to another party, known as the grantee. It serves as the formal evidence of the conveyance and identifies the parties...

In real estate, dedication is the process by which a property owner voluntarily transfers land for public use, such as for streets, parks, or other community facilities. This transfer becomes effective only when the land is formally accepted by the appropriate public...

In real estate, a decree of foreclosure is a court-issued order that directs the sale of a mortgaged property to satisfy an outstanding debt owed to the lender. This legal action occurs when a borrower fails to meet their mortgage obligations, such as missing payments...