Dictionary

Dynamic Risk

Definition:  The risk that arises from the constant change in the business environment and thus dynamic risk cannot be transferred to an insurer. Pronunciation: \dī-ˈna-mik\ \ˈrisk\ Used in a Sentence:   The slow down...

Due-on-sale Clause

Definition: An acceleration clause found in most mortgage loans, requiring the mortgagor to pay off the entire mortgage debt when the property is sold. Pronunciation: Used in a Sentence:   When we...

Dual Agent

Definition:  A situation where an agent (or agency) represents both principals in a transaction.  (not a legal agency relationship in Florida). Pronunciation: \ˈdü(-ə)l\ \ˈā-jən(t)\ Used in a Sentence:   It is illegal for a...

Down Payment

Definition: A portion of the purchase price paid prior to closing the transaction.  Earnest money may be either part of or the entire down payment. Pronunciation: \ˈdau̇n\  \ˈpā-mənt\ Used in a Sentence: ...

Double-hung

Definition: A window consisting of two sashes that move up and down in a pair of channels and are held open by tension springs. Pronunciation: \ˌdə-bəl-ˈhəŋ\ Used in a Sentence:   Because only...

Dormer

Definition: A window that is in a part of a building that sticks out from a slanted roof. Used to provide additional headroom, light and ventilation to an upstairs room. Pronunciation:  \ˈdȯr-mər\...