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Word: Definition:
GENERAL LIEN A lien which attaches to all property owned by the debtor.
GENERAL WARRANTY A covenant in the deed whereby the grantor agrees to protect the grantee against the world.
GRADUATED LEASE A lease that provides for the varying rental rate, often based upon future determination; sometimes rent is based upon result of periodic appraisals; used largely in long-term leases.
GRADUATED RENTAL SYSTEM concession lease in which lessee’s percentage rental fluctuates with the ratio of his gross income to gross fixed assets. Also provides for a nonrefundable Fixed Minimum Rental (FMR). Percentage rental is offset against the FMR.
GRANT The act of conveying or transferring real property, the operative words in a conveyance of real estate are to “grant, bargain, and sell”. The grantor (the person who conveys the real estate) delivers the grant, in the form of a deed, to the grantee.
GRANTEE Entity to whom a grant is made, or to whom real estate is conveyed. The buyer.
GRANTOR Entity who makes a grant, conveys real estate by deed. The seller.
GROSS INCOME The projected annual income from operation of a business or from management of a property.
GROSS RENT MULTIPLIER Ratio of sales price to monthly rental income for single family residential properties.
GROUND LEASE A lease to use land for a stated period; may be secured by improvements which the tenant will provide.
GUIDE ACQUISITION LINE A line on the map accompanying a design memorandum showing the tentative boundaries of the land to be acquired for a project.