D
DAMAGES
Compensation or indemnity for loss owing to breach of contract.
DATE OF COMPLETION
The date specified by an agreement of purchase and sale, when the purchaser is to deliver the balance of money due and the vendor to deliver a duly executed deed.
DEBT SERVICE
The amount of principal and interest payments made under a mortgage.
DEFAULT
Failure to fulfill an obligation.
DEFERRED INCOME
An accounting method of dealing with income that is received but not included in a statement of earnings as normal earnings.
DEFICIENCY
An insufficient payment, often relating to an amount recovered under a power of sale or foreclosure action.
DEMAND NOTE
Payment is made on demand, usually within a few days notice to the borrower.
DEPOSIT
Payment of money or other valuable consideration as pledge for fulfillment of contract.
DEPRECIATED REPRODUCTION COST
Appraisal method by which the cost of replacing a structure, minus depreciation, gives the depreciation reproduction costs.
DEPRECIATION
A loss in value due to any cause.
DISCHARGE OF MORTGAGE
A document executed by the mortgagee, and given to the mortgagor when a mortgage loan has been repaid in full before, at, or after the maturity date.
DISCLOSURE STATEMENT
A statement contained in a consumer credit transaction in order to disclose complete credit terms and interest rates.
DISCOUNT
Reduction in product price or cost of a service. A discount if the difference between the nominal face value of a loan and actual cash received by the borrower because interest is paid at the beginning of a loan based on the sum to be repaid at maturity.
DISCOUNTED CASHFLOW ANALYSIS
This is a method of analysis that calculates the true value of an investment in terms of the present value, i.e. what the investment ifs worth now, although it is spread over a number of years. To compensate for future earnings a discount factor is added in so that a real comparison can be made between an investment with quick return and one that is placed over a number of years.
DISCOUNTED LOAN
The face value of the loan minus the interest or discount charged by the lender is the amount actually advanced to a borrower.
DOMINANT TENEMENT
The estate which derives benefit from an easement over a subservient estate, as in a Right-of-Way.
DOWER INTEREST
A wife's interest in the lands of her husband accruing to her by virtue of the marriage.
DOWNSIDE LEVERAGE
Occurs where the debt service on a mortgage exceeds the yield on an investors' property, thereby reducing cash flow.
DRAWEE
The person, bank, or corporation on whom a bill, note or cheque is drawn from and from whom payment is expected by the payee or his assignee.
DRAWER
The person or corporation who writes a cheque or note for payment to a third party. In the case of a bill of exchange, the drawer is the creditor and is usually the payee.