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A deed in which the grantor warrants title
against all claims, offering the greatest guarantee of protection of any type
of deed, and which is used in most real estate deed transfers of
title
Ginnie Mae
The Government National Mortgage Association
(GNMA), a United States corporation that guarantees privately issued securities
backed by pools of mortgages insured by the Federal Housing Administration, the
Farmers Home Administration, or the Veterans Administration
Graduated-payment mortgage
(GPM)
A flexible-payment mortgage with monthly
principal and interest payments that increase by a certain percentage each year
for a certain number of years, and then level off for the remainder of the
term
Grantee
The person who, by written document, receives
title or an interest in real property from a grantor
Grantor
The person who, by written document, transfers
title to or an interest in real property to a grantee
Gross Lease
The most common of residential leases, whereby
the landlord pays for all property expenses incurred through ownership, such as
taxes, insurance, repairs, etc.
Ground Lease
A long-term lease of land (usually 99 years)
that allows the lessee to build and use the land as agreed in the lease, at the
end of which, the land and any improvements revert to the owner
Ground rent
The payment made for the use of land when the
title to the property is of a leasehold estate, rather than as a fee simple
estate
Growing-equity mortgage
(GEM)
A fixed-rate loan for which the monthly payments
increase over a designated period of time, with the increased amount of the
monthly payment being applied directly to the principal balance, thereby
shortening the term of the loan
Guarantee mortgage, or Insured
mortgage
A mortgage that is guaranteed against default by
a third party (such as the FHA), and for which the borrower must pay an
insurance premium
Guardian
An individual designated by the Court to protect
and preserve the property of someone who is not able to manage his or her own
affairs See "Conservator"
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The Ronding Team RE/MAX 1 2911 Tower Avenue, Suite 2 Superior, WI 54880 Direct: 218-348-SOLD (7653) Superior, WI Office: 715-392-1111 Duluth, MN Office: 218-722-2810 JimRonding@NUMBER1EXPERT.com
Jim Ronding has been a professional full-time Realtor for over 22 years in the Twin Ports area. Jim has consistently ranked in the top 5% of real estate agents nationally in terms of number of homes sold. Jim, along with the wonderful support of his staff, and RE/MAX 1, will make your next move your smoothest transaction yet! Guaranteed!
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