Wednesday, May 15, 2024, 9:20 AM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
D
DEVISEA gift of realty by will. |
DEVISEEOne who receives a gift of real estate by will. |
DEVISOROne who gives realty by will. |
DIRECT REDUCTION LOANA loan having a replacement schedule in which a declining amount of interest is deducted from a fixed payment amount. What remains of each payment is applied to the loan's outstanding principal. |
DISCOUNT POINTSA fee based on a percentage of a loan, charged by a lender, as a service charge, or as an amount needed to produce the same yield on an FHA or VA loan that he would receive in the conventional mortgage market; each point charged represents 1% of the loan amount and increases the interest rate by 1/8 of one percent. |
DISINHERISON - Civil Law TermThe act of depriving a forced heir of the inheritance the law gives him. |
DISPOSABLE PORTION - Civil Law TermThat amount of a person's property which he may freely dispose of without affecting the legitime (forced heirship portion). Donations inter vivos or mortis cause cannot exceed 3/4 of the property of the disposer, if he leaves, at his decease, one child; and 1/2, if he leaves two or more children. |
DOCUMENTARY STAMP TAXA state tax on the transfer of real property. |
DOMINANT ESTATEAn estate attached to and benefitting from the servient estate, e.g., an easement runs over the servient estate and serves the dominant estate; also called dominant tenement. |
DONATION INTER VIVOS - Civil Law TermA gift between living persons. A donation inter vivos is an act by which the owner (donor) divests himself of presently and irrevocably of a thing in favor of another (donee) who accepts it. |