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Welcome > Resources > Real Estate Dictionary - A
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General warranty deed |
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 |
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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 |
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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 |
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Grantee |
The person who, by written document, receives
title or an interest in real property from a grantor |
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Grantor |
The person who, by written document, transfers
title to or an interest in real property to a grantee |
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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. |
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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 |
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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 |
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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 |
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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 |
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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" |
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Above is a general Real Estate Dictionary. ( Please note that some of them may only apply in the U.S.or different provinces within Canada) If there is a word or term that you encounter when buying and selling that needs explaining, please contact us.
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Stewart J Lowe
Sothebys International Realty Canada
#100-221 10 AVE SE
Calgary, AB T2G 0V9
Office: 403.254.5315
Cell: 403.850.0669
Pager 24/7: 403.254.5315
Fax: 403.476.7608
Direct: sjlowe@sotherbysrealty.ca
Office: sjlowe@sothebysrealty.ca
Stewart J Lowe is an accredited member of The Institute for Luxury Home Marketing and an associate with Sothebys International Realty, Canada. Specializing in buying and selling Luxury Homes in Bearspaw, Springbank, Elbow Valley Estates and Residential Calgary, Estate homes, Rural homes, and Urban Homes. We pride ourselves on working very closely with a limited number of clients, enabling us to provide total communication. Understanding the unique lifestyles of the people we work with is very important to us.
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NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
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- NUMBER1EXPERT® 
