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Home Offers USA >> Glossary >> Glossary - D

We Buy Houses Glossary - D

Depreciation
It’s an accounting process and a financial term used for the method of attributing the cost of an asset. Depreciation for example is a term used for matching principle in accordance to the accounting principles. It can be regarded as a drop in value of an item over a particular period of time.

Dealer
Dealer is one who holds real property primarily for sale to customers, merchandise is inventory and gain on sale is treated as ordinary income. Dealer is an alternative usage of the term trader, being generally someone who does trading.

Deed
It’s a formal written statement by which title to real property is transferred from the owner to another. The deed ought to hold an accurate description of the property being conveyed. It should be signed and witnessed according to the laws of the State where the property is situated, and should be delivered to the customer at closing day. It encompasses two parties to a deed: the grantor and the grantee.

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