Definition: A provision in a mortgage that specifies the terms and conditions to be met in order to avoid default and thereby defeat the mortgage. Pronunciation: \di-ˈfē-zən(t)s\ \ˈklȯz\ Used in a Sentence: Once the debt is repaid, the defeasance clause defeats the mortgage lien and the property is no longer pledged as c..
Category : D
Definition: A person who is being sued or accused of a crime in a court of law. Pronunciation: \di-ˈfen-dənt\ Used in a Sentence: The jury believed the defendant was..
Definition: Judgement brought when a mortgage is foreclosed and the sale proceeds fail to cover the costs of the sale, taxes, and the unpaid mortgage balance. Pronunciation: \di-ˈfi-shən-sē\ \di-ˈkrē\ Used in a Sentence: A deficiency decree was declared when the sale of the property did not cover all of the outstanding..
Definition: The quantity of a commodity or service wanted at a specified price and time. Pronunciation: \di-ˈmand\ Used in a Sentence: The high demand for mid-priced homes created a shortage of property ..
Definition: Checking accounts; payable on demand by holder. Pronunciation: \di-ˈmand\ Used in a Sentence: I had my funds in a demand deposit account so I could access th..
Definition: A refusal or rejection. Pronunciation: \di-ˈnī(-ə)l\ Used in a Sentence: She issued a flat denial of the charges made ag..
Definition: The average number of units or dwellings per acre. Pronunciation: \ˈden(t)-sə-tē\ Used in a Sentence: The area had a housing density of 10 houses..
Definition: Guarantees mortgage loans to encourage private lending agencies to give liberal mortgages to veterans and their spouses. Pronunciation: Used in a Sentence: Because of his military background he was able to apply for ..
Definition: Earnest money or some other valuable consideration given as proof of good faith to go along with an offer to purchase or rent. See also binder and earnest money. Pronunciation: \di-ˈpä-zət\ Used in a Sentence: She was interested in buying the house so she gave the agent ..
Definition: Testimony taken down in writing under oath. Pronunciation: \ˌde-pə-ˈzi-shən, ˌdē-pə-\ Used in a Sentence: The attorney took a deposition from th..