D
DEED OF COVENANT
Legal obligations which either require a party to refrain from doing something (e.g.
not to use a property for business purposes) or to advise a party to do something
(e.g. repair a fence).
DEED OF GIFT
A document transferring the ownership of property from one person to another without
any payment being made for it.
DEED OF GUARANTEE
A document used where one person agrees to be responsible for someone else's debt
or mortgage obligations if that person fails to carry out their own obligations.
DEED OF POSTPONEMENT OR PRIORITY
Where a mortgagee agrees to their mortgage ranking after another lender's mortgage.
DEEDS
The official documents confirming who owns a property which are in the possession
of the owner or mortgagees if the property is mortgaged.
DEFECT IN TITLE
A problem with the legal ownership of the property which suggests that the legal
owner may be sued or may be asked to release their interest in a property.
DEPOSIT
This can cause confusion. When most people talk about the deposit the buyer is putting
down i.e. usually the difference between the amount of the mortgage and the purchase
price. When solicitors talk about the deposit they are talking about the money that
is handed over to the seller's solicitors upon exchange of contracts. This might
be the same amount, but if may not.
DISBURSEMENTS
Payments made on your behalf e.g. search fees. The amounts vary in Leeds, Bradford
and Wakefield.