D
Dedicate:
To appropriate private property to public ownership for a public use.
Deed:
A legal instrument transferring title to real property from the seller to the buyer upon the sale of such property.
Deed In Lieu Of Foreclosure:
A deed given by an owner/borrower to a lender to satisfy a mortgage debt and avoid foreclosure. See also "Foreclosure".
Deed Of Trust:
An instrument used in many states in place of a mortgage by which real property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary), to secure repayment of a debt.
Default:
The general failure to perform a legal or contractual duty or to discharge an obligation when due. Some specific examples are:
1) Failure to make a payment of rent when due.
2) The breach or failure to perform any of the terms of a lease agreement.
Deficiency Judgment:
Imposition of personal liability on a borrower for the unpaid balance of mortgage debt after a foreclosure has failed to yield the full amount of the debt.
Demising Walls:
The partition wall that separates one tenant’s space from another or from the building’s common area such as a public corridor.
Design/Build:
A system in which a single entity is responsible for both the design and construction. The term can apply to an entire facility or to individual components of the construction to be performed by a subcontractor; also referred to as “design/construct”.
Depreciation:
Spreading out the cost of a capital asset over its estimated useful life or a decrease in the usefulness, and therefore value, of real property improvements or other assets caused by deterioration or obsolescence.
Distraint:
The act of seizing (legally or illegally) personal property based on the right and interest which a landlord has in the property of a tenant in default.
Dollar Stop:
An agreed dollar amount of taxes and operating expense (expressed for the building as a whole or on a square foot basis) over which the tenant will pay its prorated share of increases. May be applied to specific expenses (e.g., property taxes or insurance).
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GLOSSARY
