The Real Estate
Encyclopedia: A-E

In real estate, a Determinable Fee (often called a fee simple determinable) is a type of defeasible estate in which ownership automatically ends if a specified condition or event occurs. The estate is typically created using conditional language such as “so long as,”...

In real estate, Depreciation refers to the loss in value of a property over time due to factors such as physical wear and tear, aging, functional obsolescence (outdated design or features), or economic obsolescence caused by external influences like neighborhood...

In real estate, Depreciable Life is a tax term that refers to the period of time over which a property or asset is allowed to be depreciated for income tax purposes. It represents the number of years the IRS assigns to an asset to recover its cost through annual...

In real estate, Delivery refers to the legal act by which a deed is transferred from the grantor to the grantee with the intent to convey ownership of the property. Delivery does not require physical possession of the property itself; rather, it focuses on the...

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...