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General warranty deed
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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
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Ginnie Mae
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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)
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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
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The person who, by written
document, receives title or an interest in
real property from a grantor
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Grantor
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The person who, by written
document, transfers title to or an interest in
real property to a grantee
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Gross Lease
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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
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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
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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)
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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
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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
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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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