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| Defect
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(1) Lack of a necessary item for completeness. (2) An imperfection, weakness, blemish, fault, etc. (3) To forsake or join the opposition. |
| Defective title
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A title obtained through error or fraud without proper signature or consideration or other improper action. A defective title is null and void, having no effect on the original title. |
| Defensible space
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An area, typically a width of 30 feet or more, between an improved property and a potential wildfire where the combustibles have been removed or modified.
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| Deferred interest mortgages
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This mortgage has a lower interest rate and, thus, a lower monthly mortgage charge. When the house is sold, the lender receives the deferred interest plus a fee for postponing the interest that would have been paid monthly. |
| Deferred maintenance
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Postponed repairs or maintenance on a piece of property, which result in a decline of property value. |
| Deferred payments
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Money payments to be delayed for a future date or extended period of time. |
| Deficiency
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Additional tax liability that the IRS deems to be owed by a taxpayer. |
| Deficiency judgment
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Court finding that the debtor owes an amount exceeding the value of the collateral put up for the defaulted loan. |
| Deflate
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(1) To make smaller or less important. (2) To collapse by releasing air or gas. |
| Deflation
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General decrease in prices. |
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