Deed
Written document by which an estate or interest in real property is transferred from one person to another. The person who transfers the interest is called the "grantor." The one who acquires the interest is called the "grantee." Examples of deeds are grant deeds, administrator's deeds, executor's deeds, quitclaim deeds, etc. The deed to use depends on the language of the deed, the legal capacity of the grantor and other circumstances.

Deed Restrictions
Limitations in the deed to a property that dictate certain uses that may or not be made of the property.

Defect
A blemish, imperfection or deficiency. A defective title is one that is irregular and faulty.

Defective Title
(1) Title to a negotiable instrument obtained by fraud.(2) Title to real property which lacks some of the elements necessary to transfer good title.

Demand Note
A note having no date for repayment, but due on demand of the lender.

Deposit
Money given by the buyer with an offer to purchase. Shows good faith. Also called earnest money.

Description
The exact location of a piece of real property stated in terms of lot, block, tract, part lot, metes and bounds, recorded instruments, or U.S. Government survey (sectionalized). This is also referred to as legal description of property.

Due-on-Sale Clause
A provision in a mortgage which requires the loan to be paid in full if a property is sold or transferred.