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7/10/2012

Glossary Real Estate Terms G -H


Real Estate Terms LETTER G

GABLE ROOF

Pitched roof with sloping sides
Gabled roof on Pacific Palisades, California house that sold this year
 


GAMBREL ROOF

House sold in Berkeley, California with Dutch Colonial style and Gambrel roof line
 
Curb roof, step lower slope flatter upper slope above


GENERAL LIEN

Lien on all property of a debtor

GIFT DEED

Deed for which the consideration is love and affection

GIRDER

Ground level at the foundation

GRADUATED LEASE

Lease provides varying rental rate- based on a future determination such as periodic appraisals, used in long term leases

GRANT

Conveyance of deed signifies the intent to transfer title of the land

GRANT DEED

Deed in which the word grant is used as the word of conveyance- free from encumbrances

GRANTEE

The purchaser a person to whom the grant is made

GRANTOR

Seller of property who signs the deed

GRI

Graduate Realtors Institute

GRID

Chart used in rating borrower risk, property and neighborhood

GROSS DOMESTIC PRODUCT

Total value of all goods and services produced in an economy at a given time using the local resources

GROSS INCOME

Total income before any expenses

GROSS RATE

Method of collecting interest by adding the total interest to the loan at the start (you pay the interest even if you pay off early)

GROSS RENT MULTIPLIER

Figure when multiplied by gross income of a property produces an estimate of value

GROUND LEASE

An agreement for use of the land only

GROUND RENT

Earnings of the improved property credited to earnings of the ground itself after allowance for earnings of improvements- also called economic rent

H

HABENDUM CLAUSE

“to have and to hold” clause in a deed

HEADER

A beam placed perpendicular to joists & which joists are nailed in framing for a chimney. Stairway or opening

HIGHEST AND BEST USE

Appraisal term at time of appraisal the greatest net return on property over a given period of time, starting point for an appraisal

HIP ROOF

Pitched roof with sloping sides and ends

HOLDER IN DUE COURSE

One who has taken a note, check etc. in due course before it is overdue in good faith and for value without any knowledge that is was dishonored (still good)

HOLDOVER TENANT

Tenant who remains in possession of leased property after the expiration of term

HOMESTEAD

Home upon which an owner has recorded a Declaration of Homestead, protects against some judgments

HUNDRED PERCENT LOCATION

City retail business location that is the best location

HYPOTHECATE

To give a thing as security without the necessity of giving possession of it up







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