A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

D

Deed	A written document that conveys the ownership of real estate from one person or party to another
Deed-in-lieu, or Deed-in-lieu of foreclosure	A deed given by a mortgagor to the mortgagee when the mortgage is in default, to avoid foreclosure
Deed of trust	A written document that grants a trustee, in the event of foreclosure, the full power to sell, mortgage and subdivide the property in question
Deed Restriction	A clause in a Deed that limits the uses of the property (e.g., types or quantities of structures permitted)
Default	The failure to meet the legal obligations in a contract; in real estate, failure to pay mortgage payments as scheduled or to comply with other stipulations of the mortgage
Deferred interest	Interest on a mortgage which is delayed because the monthly payment of the mortgage is not large enough to cover the entire principal and interest due, and therefore is added to the loan balance See "negative amortization"
Deficiency judgment	A claim made by the holder of a note against the maker, in the event that a foreclosure sale does not bring in enough proceeds to fully cover the note and the costs of sale, for the difference
Delivery	The final, unconditional and absolute transfer of a Deed from seller to buyer, such that the seller cannot revoke the transfer of ownership; the Deed itself does not pass title until the seller delivers it to the buyer
Depreciation	A decline in the value of property, due to any cause; the opposite of appreciation Also an expense deduction taken for tax purposes over the period of owning income property
Devise	To dispose or convey ownership of real property via a will
Disclosure	A statement of facts made by the buyer about the condition of a property being sold and its surrounding area, required by law in most US states
Discount point	A unit of measurement used for loan charges, with one point equaling 1 percent of the value of the loan
Dower	The rights of a spouse to the property of their deceased spouse
Down payment	The amount of the purchase price of a property paid in cash (i.e. not financed with a mortgage) that is required to secure the property; typically 20%
Dual agency	Representation of opposing parties in a transaction (e.g. when a realtor is the agent for both buyer and seller); requires consent of both parties to be allowed, and is illegal in some US states
Due-on-sale clause	A provision in a mortgage allowing the lender to demand payment of the entire balance of the note if the mortgagor sells or otherwise transfers the property

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate Tips First Time Buyers >Insuring Your Home Many home buyers are concerned about whether they have an insurable interest in the property before the actual closing. The answer is an unqualified "yes". Although the buyer is not yet the recorded owner of the property, he or she has an insurable interest in the property as soon as the agreement of sale is executed by both the buyer and seller. Should you get hazard insurance before the closing? It depends. Buyers do not usually insure a property until the title passes to them from the seller. However, it's wise to know what the agreement between you and the seller stipulates with regard to insurance. Most agreements state that the property will be insured for a specific amount. This is very important to both parties. From the buyer's point of view, it is also critical that an adequate sum or full replacement value be stipulated. Watch out for agreements which read "as now insured". This is an all-too-common practice which usually indicates that the seller does not to want to increase inadequate insurance coverage. See All Tips In The "First Time Buyers" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  What took over 30,000 workmen to construct and is considered the second largest palace in the world? A  The Palace of Versailles, 14 miles southwest of Paris and completed in 1682, is famous for its size and its beauty. See More Real Estate Trivia >

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Maurice Vaughn / The Vaughn Team BetterHomes&GardensReal Estate HometownConnection 108 Center Pointe Dr. Clarksville, TN 37040 Office: 931-245-6733 Company: 931-245-2050 Toll Free: 1-877-VAUGHN9 MVaughn@TheVaughnTeam.com Over the years, Maurice has witnessed many changes and much growth in his hometown, but he knows the core values by which he was raised-independence, integrity, determination-will always remain the same. Maurice's spirit of dedication to Clarksville is always on display through his work with community groups like the Salvation Army, the Relay for Life, cookouts for Little League teams and his passion for history. Family is also a top priority for Maurice and he loves to spend time with his children and his wife Terri, at one of the nearby lakes. Perhaps nowhere is Maurice's appreciation for the spirit of Clarksville more apparent than in his career as one of the area's most experienced real estate professionals. For more than 22 years, Maurice has been the trusted source to whom more people turn when the time comes to buy or sell a home. With his knowledge of the area, business savvy and dedication to his clients, he's truly made a name for himself in the Clarksville real estate market. No matter what your real estate needs, turn to Maurice Vaughn and experience The Spirit of Clarksville. -Maurice Vaughn www.TheVaughnTeam.com is brought to you by Maurice Vaughn, real estate for Clarksville, Montgomery County TN and Fort Campbell, KY, Tennessee Read Maurice Vaughn's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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