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Real Estate Terms - D

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Domicile

The place where a person has a permanent home.

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Double-declining Balance Depreciation

An accelerated method of depreciating an asset in which double the amount of straight-line depreciation is deducted from the remaining value of the asset each year.

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Dower

The portion of her husband's estate that a wife inherits on his death in the absence of a will.

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Down Payment

Cash or other consideration paid toward a purchase by the buyer, as opposed to the amount that is financed.

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Due-on-sale Clause

A condition written into a financial instrument which gives the lender the right to require immediate repayment of the unpaid balance if the property is sold without consent of the lender.

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