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General warranty deed |
A deed in which the grantor warrants title
against all claims, offering the greatest guarantee of
protection of any type of deed, and which is used in most real
estate deed transfers of title |
|
Ginnie Mae |
The Government National Mortgage Association
(GNMA), a United States corporation that guarantees privately
issued securities backed by pools of mortgages insured by the
Federal Housing Administration, the Farmers Home Administration,
or the Veterans Administration |
|
Graduated-payment mortgage (GPM) |
A flexible-payment mortgage with monthly
principal and interest payments that increase by a certain
percentage each year for a certain number of years, and then
level off for the remainder of the term |
|
Grantee |
The person who, by written document, receives
title or an interest in real property from a grantor |
|
Grantor |
The person who, by written document, transfers
title to or an interest in real property to a grantee |
|
Gross Lease |
The most common of residential leases, whereby
the landlord pays for all property expenses incurred through
ownership, such as taxes, insurance, repairs, etc. |
|
Ground Lease |
A long-term lease of land (usually 99 years)
that allows the lessee to build and use the land as agreed in
the lease, at the end of which, the land and any improvements
revert to the owner |
|
Ground rent |
The payment made for the use of land when the
title to the property is of a leasehold estate, rather than as a
fee simple estate |
|
Growing-equity mortgage (GEM) |
A fixed-rate loan for which the monthly payments
increase over a designated period of time, with the increased
amount of the monthly payment being applied directly to the
principal balance, thereby shortening the term of the loan |
|
Guarantee mortgage, or Insured mortgage |
A mortgage that is guaranteed against default by
a third party (such as the FHA), and for which the borrower must
pay an insurance premium |
|
Guardian |
An individual designated by the Court to protect
and preserve the property of someone who is not able to manage
his or her own affairs
See "Conservator" |
