Deed Restriction An imposed restriction on a particular deed that limits the use of the land/property.
Default Failure to fulfill a duty, such as to pay a loan instalment.
Deposit Money given by the buyer with an offer to purchase property. Also called earnest money.
Discounting The process of expressing expected future income in terms of a present value.
Down Payment The amount of money provided by the Purchaser toward the total price of the property (not including legal fees or other acquisition costs). In general, down payment plus mortgage equals purchase price.