For all terms starting with "G" scroll down the list below.
Form of multiunit housing; usually a townhome that includes a small enclosed yard or patio.
In a construction project, the party responsible for the construction; can hire subcontractors and suppliers but bears ultimate responsibility; has direct contractual relationship with owner, construction lender, or both.
Investor with full personal liability for partnership debt.
Voluntary association of two or more persons as co-owners in a business for profit.
Development plan and zoning areas as developed by city or county; provides zoning designations for all areas within the municipality or county.
Form of energy that is the result of naturally formed pockets of hot steam; can be a mineral right.
Buyer who buys property with no knowledge (constructive or actual) of any title defects, liens, or other problems other than those specifically disclosed by the seller; also called bfp or bona fide purchaser.
Government National Mortgage Association (GNMA) or Ginnie Mae
Government agency that insures loans sold on the market.
Grantor/grantee index system
Method of record-keeping for land transactions; all transactions are recorded under the name of both the grantor and grantee to permit title to be traced according to the transfers among parties.
The 24-mile square created between each guide meridian and parallel in the United States Government survey.
Flat rent in commercial lease; no percentage of profits.
Guaranteed Mortgage Package (GMP)
Proposed HUD reforms to RESPA disclosures that would require upfront commitment on closing costs and loan rents; whether the proposals are pro-consumer or detrimental in terms of increased costs is debatable.
Parties who agree to stand liable if a debtor defaults.
Vertical lines placed every 24 miles on the United States Government Survey; intersect with parallels to create 24-miles squares used for describing land parcels.