Damages:
Compensation or indemnity for loss owing for breach of contract, or a tort (civil wrong).

Date of Completion:
The date when the title to real property transfer to the new owner.

Debt Service Ratio:
The percentage of a borrower's gross income that can be used for housing costs (including mortgage payments and taxes). This is used to determine the amount of monthly mortgage payment the borrower can afford.

Deed:
A legal document, duly executed and delivered, that transfer an interest or title in real property.

Deed Restriction:
An imposed restriction in a deed for the purpose of limiting the use of the land.

Default:
Failure to fulfill a promise or obligation.

Demolition:
The tearing down or destruction of a structure. Usually, a demolition permit must be obtained from the local building department.

Down Payment:
The part of the purchase price paid by the buyer which is not financed with a mortgage.

Dual Agency:
Representation of two principals (usually seller and buyer) by the same agent in the same transaction.

For more terminology and jargon check:

• A-Z Real Estate Terminology
• Glossary of Real Estate Terms