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Real Estate Terms - G

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Government National Mortgage Association (GNMA) (Ginnie Mae)

Federal agency that purchases first mortgages at discounts, in a role similar to that of FNMA.

 

Fri Dec 21 2007

Graduated Lease

A lease that provides for rental adjustments, often based upon future determination of the cost-of-living index. Used for the most part in long-term leases.

 

Fri Dec 21 2007

Graduated Payment Mortgage (GPM)

A mortgage with payments that increase over its term.

 

Fri Dec 21 2007

Grant

A transfer of interest in real property, such as an easement.

 

Fri Dec 21 2007
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Grantee

One to whom a grant is made.

 

Fri Dec 21 2007

Grantor

One who grants a property or its rights.

 

Fri Dec 21 2007

Gross Income

Total scheduled income from property before deducting any expenses

 

Fri Dec 21 2007

Gross Lease

A lease obligating the lessor to pay all or part of the expenses incurred on a leased property.

 

Fri Dec 21 2007

Gross-Income Multiplier

A general appraising rule of thumb that, when multiplied by the gross annual income of a property, will estimate the market value. For example, the property sells for 7.2 times the gross Income.

 

Fri Dec 21 2007

Ground Lease

A lease of vacant land.

 

Fri Dec 21 2007
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