D

Declaration of Trust
Document that binds joint owners of a property with regards to the division of proceeds upon completion.

Deed
Legal documents proving ownership of a property. Also known as Title Deeds.

Deposit
Amount of money paid by the buyer to the seller on exchange of contracts in order to secure a property. Also known as Down Payment.

Detached
Property that stands alone and has no shared walls with an adjoining property.

Development
Property that is either newly built or has been recently refurbished.

Disbursements
Third party costs relating to transaction paid out by solicitor to cover items such as Stamp Duty, Land Registry, Local Authorities, etc.

Discharge
Termination of a mortgage obligation when no further payments are required.

Down Payment
Amount of money paid by the buyer to the seller on exchange of contracts in order to secure a property. Also known as Deposit.

Draft Contract
Early version of the contract, which is then edited by the acting solicitors.