Dictionary

You can browse real estate terms here

Damages

The indemnity recoverable by a person who has sustained an injury either in his person, property, or relative rights through the act or default of another.

Debt

An amount owed to another.

Debt Service Ratio (DSCR)

The debt service coverage ratio (DSCR), also known as "debt coverage ratio" (DCR), is the ratio of operating income available to debt servicing for interest, principal, and lease payments.

Debt-to-Income Ratio (DTI)

A buyer's debt-to-income ratio compares how much a buyer owes monthly versus how much they earn monthly. This ratio is used during the underwriting process of escrow to determine how much house you can afford as a buyer. More specifically, it is the percentage of gross monthly income that goes toward payments for rent, mortgages, credit cards, car payments, or any other debt the buyer possesses.

Declaration of Restrictions

Adocument that provide guidelines, rules, and regulations regarding the rights of condominium unit owners, use, occupation, ownership and disposition of units, all of which constitutes a lien upon the project and all units.

Deed

A deed is a legal document that passes and confirms an interest, right, or property and is signed, attested, delivered, and sealed. It is commonly associated with transferring the title of a property from the seller to the buyer. A written instrument which, when properly executed and delivered conveys title.
The legal document conveying title to a property. The deed is the document that transfers ownership from the seller to you. Only the seller signs the deed at closing, and you will receive a copy of it. The closing agent will record the deed with you listed as the new property owner.

Deed Book

Deed books can be found at the county courthouse and are under the jurisdiction of the registrar of deeds. The deed book contains the record of property transfers.

Deed of Absolute Sale (DOAS)

The Deed of Absolute Sale is a written document that, when properly executed and delivered, transfers ownership to the buyer. The deed should describe the property, name the seller and the buyer, and be signed and notarized by the seller. It is made once the piece of property is fully paid. The DOAS is filed with the Land Registration Authority, and is needed for you to get your title, either a TCT or CCT.

Deed of Restrictions (DOR)

is the master deed that states all the rules and guidelines of home improvement and community rules within the subdivision.

Deed of Sale

This can be defined as a legal, binding document that proves and records the sale of a certain property. It is the written proof that both the buyer and the seller have reached an agreement regarding the sale or purchase of real estate. The deed of sale protects both the buyer and the seller when there are disagreements or problems that arise in the future.