Toronto Real Estate Glossary D
(Demand Loan - Duplex)

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Demand Loan
Loan with no established maturity period, which is callable on the demand of the lender, for repayment. The interest is calculated on a daily basis and paid periodically.

Demise
Transfer of an estate by bequest or contract for a stated time period or life. Alternately, the making of a charter or lease for a specified time period.

Deposit
Money given, along with an offer to purchase property or as security for the performance of some contract. Also called earnest money it is intended to show willingness to follow through with the purchase agreement.

Developer
Creator of property improvements by building homes, shopping centers or commercial buildings for a profit on a specific area of land. A developer will organize and plan the development, supervise its construction and manage all the business elements of the project.

Developer's Equity
Financial interest a developer has in a project.

Drainage
The system of gutter and drainpipes used to carry water away from the foundation of a home.

Dual Agency
Representation of both parties by the same real estate agent or broker.

Duplex
Structure consisting of two separate family units, under the same roof.

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