Glossary of Terms – D
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Debt service:
Cost of paying interest for use of mortgage money.
Deductions:
The expenses that Revenue Canada (CRA) allows you to deduct from your gross income.
Deed:
This document conveys the title of the property to the purchaser. Different terminology may be used in different provincial jurisdictions.
Depreciation:
The amount by which you write off the value of your real estate investment over the useful life of the investment. Does not include the value of your land.Down payment:
An initial amount of money (in the form of cash) put forward by the purchaser. Usually it represents the difference between the purchase price and the amount of the mortgage loan.
