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Descent
Descent Acquisition of an estate by inheritance in which an heir succeeds to the property by operation of law.
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Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
Heir
A person who inherits under a will or a person who succeeds to property by the state laws of descent if the decedent dies intestate.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
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Department of Real Estate (California)
The California agency that administers the Real Estate Law, including the licensing of real estate brokers and agents; headed by the Real Estate Commissioner, who is appointed by the Governor and presides over the Real Estate Advisory Commission whose ten members are appointed by and serve at the Commissioner's discretion.
Deposit
A cash lump sum, usually expressed as a percentage of the value of the property, given by the buyer to the seller.
Depreciable basis
In investment real estate only structures can be depreciated. The depreciable basis is the original basis less the value of the land.
Depreciation
Decrease in value to real property improvements due to wear and tear, adverse changes in the neighborhood, or any other reason.
Derivative securities
Securities that are created artificially, i.e., derived from other financial instruments. In the context of CMBS, the most common derivative security is the interest-only strip.
Descent
Design-build
A system in which a single entity is responsible for both the design and construction
Designated agent
A licensee authorized by a broker to act as the agent for a specific principal in a particular transaction.
Designer
Unlike architects, designers are limited to drawing blueprints.
Destruction of premises
In many states, once the sales contract is signed by both parties, the buyer bears the risk of any damage to the property that may occur before closing.
Detached garage
A garage that is not attached to a home. Usually found in older homes.
This dictionary contains 6433 terms. |
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