Glossary of Real Estate Terms "D"

Like many other industries, the real estate industry has its own unique language and vocabulary. Without some knowledge of this specialized language, you may find yourself a bit confused if you become involved in a real estate transaction.

Whether entering the real estate market for the first time or if you have invested before, this handy reference will provide an understanding of basic real estate words and phrases.


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D

Dedication – The setting aside of certain land by the owner and declaring it to be for public use. Examples: streets, sidewalks and parks.

Deed – A document through which a conveyance of property is effected.

Deed Restriction – A covenant contained in a deed imposing limits on the use or occupancy of real estate or the type, size, purpose or location of improvements to be constructed on it.

Defect – A blemish imperfection or deficiency. A defective title is one that is irregular and faulty.

Depreciation – Loss in value occasioned by ordinary wear and tear, destructive action of the elements, or functional or economic obsolescence.

Devise – A gift of real estate made by a will.

Dominant Estate – The property for the benefit of which a right-of-way easement exists across another's adjoining piece of land is said to be the dominant estate. The land across which the easement runs is said to be the servient estate.

Dower – A right that a wife has in her husband's property at the time of his death. A wife must sign documents eliminating her dower interest in any property owned by her husband.




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