Vocabulary Letter G Flashcards Preview

Real Estate > Vocabulary Letter G > Flashcards

Flashcards in Vocabulary Letter G Deck (14):
1

Gable Roof

one with a triangle, with the ridge forming an angle at the top and each eave forming an angle at the bottom.

2

Gain

an increase in money or property value.

3

Garden Apartments

a housing complex whereby some or all tenants have access to a lawn area.

4

General Contractor

one who constructs a building or other improvement for the owner or developer.

5

General Lien

a lien that includes all of the property owned by the debtor, rather than a specific property.

6

General Warranty Deed

a deed in which the grantor agrees to protect the grantee against any other claim to title of the property.

7

Gentrification

the displacement of lower income residents by higher income residents in a neighborhood.

8

Graduated-Payment Mortgage (GPM)

A mortgage that requires a borrower to make larger monthly payments over the term of the loan. The payment is unusually low for the first few years but gradually rises until year three or five, then remains fixed.

9

Grantee

the party to whom title to real property is conveyed.

10

Grantor

the party who gives the deed.

11

Gross Debt Service

the amount of money needed to pay principal, interest and taxes, and sometimes energy costs. If the dwelling unit is a condominium, all or a portion of common fees are excluded, depending on what expenses are covered.

12

Gross Monthly Income

Income before deductions for taxes, social security, saving plans, court ordered child support, etc.

13

Gross Rent Multiplier

the sales price divided by the gross annual rental rate.

14

Ground Lease

one that rents the land only.