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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"
Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property.
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Kerry Roth RE/MAX 2000 11400 Rockville Pike, Suite 200 Rockville, MD. 20852 Direct : 301-518-0994 Fax: 301-881-1706 Home Fax : 301-977-5588 Office : 301-881-1700 Email: kerryroth@NUMBER1EXPERT.com
I have helped hundreds of clients make the move and I look forward adding you to the long list of satisfied clinets I have assisted. I look forward assisting you with your home sale or purchase in the DC Metro Area in the near future. Do not hesitate to contact me with any questions or concerns about real estate in our area. If you are moving from out of town, don't hesitate to ask for our relocation package. I serve DC, Maryland and Northern Virginia! Happy House Hunting!
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