Glossary

A B C D E F G H I J K L M N O P Q R S T U V W XYZ

G

GARNISHMENT: Statutory proceeding whereby a debtor's personal property, in possession of a third party, is seized and applied to payment of the debt.

GENERAL PLAN RESTRICTIONS: Restrictions on use of real property imposed for the benefit of all lots in a subdivision.

GENERAL WARRANTY: A warranty provision in a deed or mortgage or other real estate instrument containing all of the common law items of warranty. Also known as a full warranty.

GORE: A sliver of land usually of triangular shape between two tracts, resulting from failure of land descriptions to adjoin.

GRANT: A transfer of real estate between individuals, by deed. A transfer of real estate from a sovereign by patent or royal decree.

GRANT DEED: One of many types of deeds used to transfer real property. A grant deed contains warranties against prior conveyances or encumbrances.

GRANTEE: One to whom a grant is made.

GRANTOR: One who makes a grant.

GROUND LEASE: Lease covering land only and not improvements which are to be installed by the lessee.

GUARANTY: An agreement in which a guarantee or assurance of a state of facts or the performance of an objective or obligation is given.

GUARDIAN: A person who is legally responsible for the care and management of the person or property of one who is legally incompetent to manage his own affairs.