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Real Estate Glossary > G words > Flashcards

G words Flashcards

1
Q

GableRoof

A

Aroofslopingdownwardintwopartsatananglefromacentralridge,soastoleavea gableateachend.

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2
Q

GambrelRoof

A

Aroofwithtwosides,eachofwhichhasashallowerslopeaboveasteeperone.

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3
Q

GeneralAgent

A

Anagentwithfullauthorityoveronepropertyoftheprincipal,suchasaproperty manager.

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4
Q

GeneralContractor

A

Acontractorwhoseprincipalbusinessisinconnectionwithanystructurebeing built(ortobebuilt),requiringinitsconstructiontheuseofatleasttwounrelatedbuildingtradesor crafts.

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5
Q

GeneralLien

A

Alienonallthepropertyofadebtor.

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6
Q

GeneralPartnership

A

Anarrangementbywhichpartnersconductingabusinessjointlyhaveunlimited liability,whichmeanstheirpersonalassetsareliabletothepartnership’sobligations.

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7
Q

GiftTax

A

Ataxonthetransferofpropertybyoneindividualtoanotherwhilereceivingnothingorless thanfullvalueinreturn.

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8
Q

GinnieMae

A

anicknameforGovernmentNationalMortgageAssociation(GNMA),aU.S.government agencythatpurchasesFHAandVAmortgages.

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9
Q

GoodFaithEstimate

A

Thelender’sestimateoftheborrower’ssettlementcosts;RESPAisrequiredto furnishittotheborroweratthetimeofloanapplication.

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10
Q

GovernmentSurveys

A

Amethodofspecifyingthelocationofparceloflandusingprimemeridians,base lines,standardparallels,guidemeridians,townshipsandsections.

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11
Q

GraduatedLease

A

Leasewhichprovidesforavaryingrentalrate,oftenbaseduponfuture determination;sometimesrentisbaseduponresultofperiodicalappraisals;usedlargelyinlong‐term leases.

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12
Q

GrantDeed

A

Alimitedwarrantydeedusingtheword“grant”orlikewordsthatassuresagranteethat thegrantorhasnotalreadyconveyedthelandtoanotherandthattheestateisfreefromencumbrances placedbythegrantor.

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13
Q

Grantee

A

Apersonwhoreceivestitletorealpropertybydeed.

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14
Q

Grantor

A

Apersonwhoconveystitletorealpropertybydeed.

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15
Q

GrossDomesticProduct(GDP)

A

Theaggregate(sumtotal)amountofthevalueofallgoodsand
servicesprovidedintheeconomyforacertainperiodoftime.

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16
Q

GrossIncome

A

Totalincomefrompropertybeforeanyexpensesarededucted.

17
Q

GrossLease

A

Aleaseinwhichthelessorpaysallcostsofoperatingandmaintainingthepropertyand realpropertytaxes.

18
Q

GrossRentMultiplier

A

Anumberwhich,timesthegrossincomeofaproperty,producesanestimateof valueoftheproperty.

19
Q

GroundLease

A

Anagreementfortheuseoflandonly,sometimessecuredbyimprovementsplacedon thelandbytheuser.

Real Estate Glossary (23 decks)

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