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26 Cards in this Set
- Front
- Back
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G.N.M.A |
Government National Mortgage Association (Ginnie Mae) active in the secondary mortgage market. |
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Gable Roof |
A pitched roof with two sloping sides. |
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Garnishment |
A court detective to the party who is holding the assets of another to freeze said assets. |
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General Agent |
An agent having the power to perform any and all acts on behalf of a Principal as expressed in a legal document. |
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General Lien |
A lien that encumbers both Re’al and personal property. |
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General Partnerships |
Each partner is responsible and liable for the total profit or loss of the operation regardless of the initial investment |
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General Warranty Deed |
A conveying deed in which the grantor states that he or she will forever guarantee the title of real property. |
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Gift Deed |
A deed conveyed with love and affection as consideration. |
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Good Consideration |
Love and affection given in exchange for real property. |
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Good Faith Estimate |
An estimate of all anticipation closing costs regarding a residential transaction. This estimate is required to be given to all buyers by lender under R.E.S.P.A. guidelines. |
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Good Will |
The intangible value of a business due to the habit of patronage. Goodwill may be depreciated for accounting purposes. |
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Government Lot |
In a Government Rectangular Survey System, those irregular sections due to curvature of the Earth or acts of nature. |
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Government Rights |
Taxation, Escheat, Eminent Domain, Police Power |
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Govt Rectangular Survey System |
A government method of surveying land located by using a principal base line and principal meridian. |
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Graduated Lease |
A lease that will go up in rent at specified intervals. |
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Grandfather Clause |
A clause that indicates something was once allowed and may still continue despite changes in the law. |
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Grant |
The transferring of real property by a deed. |
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Grantee |
The person who receives an interest in real property via a deed. |
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Granting Clause |
The words in a deed that state, “I hereby grant and convey...” |
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Grantor |
The person who conveys an interest in real property via deed. |
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Gross Lease |
A lease where the lessor is responsible for all expenses. |
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Gross Rent Multiplier |
A figure used that, when multiplied by the annual gross rent, will estimate the property value. |
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Gross Schedule Income |
The total potential of all income that can be derived from an investment property. |
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Ground Lease |
A lease for land only. |
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Ground Water |
The classification of all underground water except for underground streams. |
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Guardian |
One appointed by the court to handle the affairs of an incompetent party. |
