For a larger glossary of many terms used in property appraisal, please see the International Association of Assessing Officers' Glossary for Property Appraisal and Assessment .

Date of Sale

The date upon which the sale is agreed. This is considered to be the date the deed, or other instrument of transfer, is signed.

Date of Transfer

The date upon which the sale is agreed. This is considered to be the date the deed, or other instrument of transfer, is signed.

Debt Service

The total payments of principal and interest on a mortgage.


Person or entity that creates and records the subdivision or condominium documents including the project C.C. & R. Typically synonymous with the project developer.


A written, legal instrument that conveys an estate or interest in real property when it is executed and delivered. (See also Quitclaim Deed, Warranty Deed).

Deed Number

The identifying number of and a link to the latest recorded deed associated with the parcel.

Deed Restriction

A limitation that passes with the land regardless of the owner; usually limits the property's type or intensity of use.

Delinquent Amount Due

The total amount of past due taxes on the property.


Schedule showing the amount of a good or service that would be purchased at various prices during a given period.


The loss in value from all causes to property, after construction or purchase.

Depreciation Schedules

Tables used in mass appraisal which show the typical loss in value at various ages or effective ages for different types of properties.

Depth Factor

Standard, mechanical technique for determining the value of an urban land lot having certain depth from the value of a base lot having different dimensions.


Impairment of condition; a cause of depreciation that reflects the loss in value due to wear and tear, disintegration, use in service, and the action of the elements.

Direct Capitalization

Converts an estimate of annual income into an estimate of value, directly, by dividing the annual income by an appropriate rate or by multiplying the annual income by an appropriate factor.

Direct Cost

Cost incurred in construction on the site. For Example; materials, labor supervision and utilities.

Discount Rate

The rate of return on investment; used to convert future income into present value. The rate an investor requires to discount future income to its present worth.

Discounted Cash Flow Analysis

A yield capitalization method used to calculate the present value of anticipated future cash flows.

Divided Rights

Rights to property that have been divided among several owners in partnerships, joint tenancy, tenancy in common and time sharing.