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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" |
