Real Estate / Business Glossary
"D" Dictionary Definition - What is a :
An amount of money placed in trust as evidence of commitment to buy. Itís also the amount of your own money that you put towards the purchase of a home or business. The deposit goes to the seller when your offer becomes unconditional.
Depreciation is the decrease in value of buildings, chattels etc as they gets older or more worn.
Discharge of Mortgage
This is what happens when youíve paid everything back. The mortgage is discharged so the bankís name is taken off the title to your property and the Certificate of Title is returned to you.
The process by which careful consideration of every aspect of a proposed asset purchase or lease is reviewed including in-depth financial, legal and physical investigations. Usually in the context of buying a business. Sale and purchase agreements and lease agreements are often conditional upon the completion of due diligence within a specified period to the satisfaction of the purchaser or prospective lessee.