DVA loan

A mortgage loan on approved property made to a qualified veteran by an authorized lender and guaranteed by the Department of Veterans Affairs to limit possible loss by the lender.

Read More

Duress

The use of unlawful constraint that forces action or inaction against a person’s will.

Read More

Dower

The legal right or interest recognized in some states that a wife acquires in the property her husband held or acquired during their marriage. During the lifetime of the husband, the right is only a possibility of interest; on his death, it can become an interest in land.

Read More

Dominant tenement

A property that includes in its own the appurtenant right to use an easement over another’s the property for a specific purpose.

Read More

Discount rate

The rate of interest a commercial bank must pay when it borrows from its federal reserve bank. Consequently, the discount rate is the rate of interest the banking system carries within its own framework. Member banks may take certain promissory notes that they have received from customers and sell them to their district federal reserve […]

Read More

Discount points

(1) An added loan free charged by a lender to make the yield on a lower-than-market-value loan competitive with higher-interest loans. (2) A discount point is a type of mortgage loan fee that enables a borrower to lower monthly interest rate payments by paying more upfront. A discount point may cost approximately 1% of the loan amount […]

Read More

Diminishing returns

The principle that applies when a given parcel of land reaches its maximum percentage return on investment, and further expenditures for improving the property yield a decreasing return.

Read More

Devise

A transfer of real estate by will or last testament. The donor is the devisor and the recipient is the devisee.

Read More