debt
An amount owed to another. |
debt service ratio
The percentage of a borrower’s gross income that can be used for housing costs,
including mortgage payment and taxes (and condominium fees, when applicable).
|
deed
The legal document conveying title to a property. |
default
Failure to make mortgage payments on a timely basis or to comply with other requirements
of a mortgage. |
delinquency
Failure to make mortgage payments when mortgage payments are due. |
deposit
A sum of money given to bind the sale of real estate, or a sum of money given
to ensure payment or an advance of funds in the processing of a loan. |
depreciation
A decline in the value of property; the opposite of appreciation. |
disclosed dual agency
Dual agency relationships require that both parties, the buyer and the seller,
give their informed consent concerning this relationship. |
dower act
Provincial legislation created to provide protection to one spouse from disposition
of property by the other spouse. |
dower affidavit
A document signed by the owner of a property when there is only one name on title
to show that there is no need for consent. Either the owner is not marred or the
owner and/or spouse have never lived on the property. |
dower rights
All rights given by the Dower Act to the spouse of a married person in respect
to the homestead and property of the marred person. |
down payment
The part of the purchase price of a property that the buyer pays in cash and does
not finance with a mortgage. |
dual agency
A situation in which an agent represents both the seller and the buyer in the
same transaction or when the seller’s and co-operating agents both work for the
same real estate company, one representing the buyer and one representing the
seller, even if they are in different offices or different cities. |
due-on-sale provision
A provision in a mortgage that allows the lender to demand repayment in full if
the borrower sells the property that serves as security for the mortgage.
|
RECalgary Home