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| Term |
|
Description |
|
| General Warranty Deed |
|
A deed that contains promises against any other claims to title on the property. It is the most
protective of a potential buyer. It is not used in some states since title insurance has reduced its
importance. See also: (Deed) |
|
| GI Loan (VA Loan) |
|
Analyzed by - and approval granted by - Veterans' Administration. Also called VA loan. Only
eligible veterans may apply. The Veterans' Administration guarantees a portion of the loan to the
lender against loss. |
|
| Ginnie Mae |
|
The Ginnie Mae guaranty allows mortgage lenders to obtain a better price for their mortgage
loans in the secondary market. The lenders can then use the proceeds to make new mortgage
loans available. (See also: Fannie Mae) |
|
| Gift Deed |
|
A deed for which the consideration is love and affection and where there is no material
consideration. (See also: Deed) |
|
| Government Loan |
|
A mortgage that is insured by the
Federal Housing
Administration (FHA) or guaranteed by the
Department of Veterans Affairs (VA)
or the Rural Housing Service (RHS).
(See also: Mortgage) |
|
| Graduated Lease |
|
A type of long-term lease agreement which provides for a fixed rental fee during the initial period
of the lease with increases and/or decreases in rental amount at stated times during the balance of
the contract term. |
|
| Grant |
|
To give the possession or title of by a deed. |
|
| Grant Deed |
|
A technical legal term in a deed of conveyance bestowing an interest in real property on
another. The words "convey" and "transfer" have the same effect. (See also:
Deed) |
|
| Grantee |
|
One to whom a grant is made. In real estate this is the purchaser of the property. |
|
| Grantor |
|
One from whom a grant is given. In real estate this is the seller of the property. |
|
| Gross Income |
|
Total income to the family before any expenses including taxes. |
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