- general lien
- The right of a creditor to have all of a debtor's property - both
real and personal - sold to satisfy a debt.
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- general warranty deed
- A deed in which the grantor fully warrants good clear title to the
premises. Used in most real estate deed transfers, a general
warranty deed offers the greatest protection of any deed.
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- Ginnie Mae
- A government agency that plays an important role in the secondary
mortgage market. It sells mortgage-backed securities that are
backed by pools of FHA and VA loans.
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- good faith estimate
- An estimate of charges which a borrower is likely to incur in
connection with a settlement.
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- Government National Mortgage Association (GNMA)
- see Ginnie Mae.
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- graduated-payment mortgage (GPM)
- A loan in which the monthly principal and interest payments
increase by a certain percentage each year for a certain number of
years and then level off for the remaining loan term.
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- grantee
- A person who receives a conveyance of real property from a
grantor.
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- granting clause
- Words in a deed of conveyance that state the grantor's intention
to convey the property at the present time. This clause is
generally worded as "convey and warrant";
"grant"' "grant, bargain, and sell"; of the
like.
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- grantor
- The person transferring title to or an interest in real property
to a grantee.
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- gross income multiplier
- A figure used as a multiplier of the gross annual income of a
property to produce an estimate of the property's value.
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- gross lease
- A lease of property according to which as landlord pays all
property charges regularly incurred through ownership, such as
repairs, taxes, insurance, and operating expenses.
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- gross rent multiplier (GRM)
- The figure used as a multiplier of the gross monthly income of a
property to produce an estimate of the property's value.
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- ground lease
- A lease of land only, on which the tenant usually owns a building
or is required to build as specified in the lese. such leases
are usually long-term net leases; the tenant's rights and
obligations continue until the lease expires or is terminated
through default.
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- growing-equity mortgage (GEM)
- A loan in which the monthly payments increase annually, with the
increased amount being used to reduce directly the principal balance
outstanding and thus shorten the overall term of the loan.
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