Discovery, before trial, of information in which a stenographer records the statements made, under oath, by a witness. These statements are made to answer questions posed by the attorneys to both parties.
Depository institutions deregulation and monetary control act
Federal law that represents significant decontrol of federally regulated banks and savings institutions, including gradual phase out of limits on interest rates paid on passbook accounts.
Depreciable life
Economic or physical life of a fixed asset.
Depreciable real estate (tax)
Real estate, under current tax law, is depreciated under either the straight-line method or modified accelerated cost recovery system (MACRS) method. Depreciated Cost (taxation) New cost less accumulated depreciation to date
Depreciation
Decline in value of a property due to use, wear and tear, obsolescence or deterioration. Alternately, spreading out of the original cost over the estimated life of the fixed assets such as plant and equipment to reduce taxable income.
Depreciation basis
Amount subject to depreciation, which equals the initial cost less the estimated salvage repair.
Depreciation recapture
Part of a capital gain (the amount of a gain on depreciable assets) constituting tax benefits previously taken and taxed as ordinary income.
Depressed market
Market condition in which the prices of real estate are declining because of a lack of demand.
Depression
(1) A decrease in force, amount or activity; a decrease in functional activity. (2) A hollow or low place on a surface. (3) A lowering of the atmospheric pressure indicated by the fall of mercury in a barometer. (4) A downward angle from the horizontal, used in surveying. (5) A period of slackened business activity with unemployment and falling wages.
