General Warranty Deed: A deed in
which the seller agrees to protect the buyer against
any claims to the property.
Government National Mortgage Association (GNMA,
Ginnie Mae): An agency under the Dept of
Housing and Urban Development that buys VA and FHA
mortgages from lenders, turns them into securities,
and sells them to investors.
Grantee: The party who is the buyer
or recipient of the property.
Grantor: The seller of the property.
Graduated Payment Mortgage: A mortgage
whose payments start out small, with the risk of negative
amortization. The payments increase each year until
the loan is fully amortized.
Grandfather Clause: A clause in a
law which permits the continuation of use, business,
etc., which was permissible under former law, but
which is no longer permitted due to a change in law.
This protects people currently engaging in those practices
at the time of the passage of the new law, the are
"Grandfathered in."
