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
