Real Estate Glossary Terms Beginning With – G

Updated: November 22, 2021

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Terms Beginning With - G

Property Development & Investment Glossary, Terms & Definitions

Gain

An rise in the amount of money or the value of a piece of property.

Gap loan

A mortgage that bridges a gap in the mortgage market.

Garden apartment

A reduced apartment building, typically in a suburban setting.

General contractor

A person or company who, for a charge, develops a structure for another party.

General lien

A debtor's whole property, both real and personal, is encumbered by a lien.

General partner

In a limited partnership, an individual or corporation acts as the managing partner and is liable for the firm's debts.

General partnership

A partnership in which all partners are jointly and severally accountable for the partnership's debts and liabilities.

General warranty deed

A deed in which the seller pledges to defend the buyer against any disputes to the property's title.

Gift deed

A deed performed for the sake of love and devotion rather than money.

Ginnie Mae

The Government National Mortgage Association's nick name (GNMA).

Good faith

An act between two parties that is carried out in good faith.

Government National Mortgage Association (GNMA)

A government agency that aids with house finance.

Grace period

The amount of time a party has before being regarded in default.

Graduated lease payment

A lease payment that rises by a certain amount over the length of the lease.

Graduated payment mortgage (GPM)

A mortgage with lower payments at the beginning and rising payments over a certain period of time.

Grandfather clause

A provision that allows acts that were permitted under a previous legislation to continue under the new law.

Grantee

An individual who gains a property stake by a deed or grant.

Grantor

A person who, by a deed or grant, conveys an interest in a property to a grantee.

Gross floor area

All shared areas are included in the overall floor area.

Gross income

The entire amount of rent earned from an investment property.

Gross lease

A lease in which the landlord covers all of the costs ordinarily associated with property ownership.

Gross leasable area (GLA)

The whole floor space planned for tenant occupancy and exclusive use for which rent is paid, including any basements, mezzanines, or upper floors, measured in square feet from the midline of connecting partitions and exterior wall faces.

Gross potential income (GPI)

The quantity of rental income that would be generated if a building were to be completely occupied.

Gross rent multiplier (GRM)

The ratio of a property's sale price to the gross rentals collected.

Gross profit ratio (GPR)

The net revenue split by the contract value in an instalment transaction.

Ground lease

A lease arrangement in which a lessor leases a piece of property for a certain period of time in exchange for a price.

Growing equity mortgage (GEM)

The payment on a mortgage that is increased by a predetermined amount each year. The extra payments go toward paying down the main debt. The mortgage will be paid off in a shorter period of time as a result of this principle repayment.

Guaranty

A borrower's promise to repay a loan or creditor.

Glossary Index

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