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G

GENERAL AGENT

An agent authorized to handle specified matters for his principal.

GENERAL LIEN

A lien attaching claim to all property of a person, both real and personal.

GENERAL PARTNER - Civil Law Term

All partners are general partners, having the powers, rights, and obligations of partners, unless specified otherwise in the articles of partnership; a partner "in commendam" cannot be a general partner but may become liable as one under certain circumstances.

GENERAL WARRANTY DEED

A deed in which the grantor certifies that the title conveyed is free of defects which may have arisen before or during the time he owned the property.

GENUINE ASSENT

The principal that all parties entering into a contract must do so of their own free will and choice.

GOOD CONSIDERATION

Promises of intangibles (such as love and affection made to fulfill one requirement of a binding contract.

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)

A federal agency which provides special assistance for federally aided housing programs; active in the secondary money market for government subsidized housing programs; "Ginnie Mae".

GRADUATED LEASE

A lease with fixed increases at stated intervals, or increases based upon periodic appraisals at stated times; also called a step-up lease.

GRADUATED LOAN

A loan featuring an unlevel, amortized repayment schedule in which payments start small and become larger as the loan is repaid; graduated payment mortgage.

GRANTEE

The purchaser; the person to whom an interest in realty is conveyed.


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