Resources > Glossary > Deposit

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Deposit

Phonetics: de·pos·it    \di-'pä-zət\

Function: noun

Definition 1:
A sum of money given to bind the sale of real estate.

Definition 2:
A sum of money given to ensure payment or an advance of funds in the processing of a loan.

Definition 3:
A sum of money put into a bank account.

Definition 4:
A sum of money given to protect the lender of rental property from damages.