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Real Estate & Mortgage Terms (Disclaimer: Always seek advice  regarding questions for: Legal, Tax, Accounting, Lending, Surveying, Inspecting, etc. from those other areas of expertise.  They may best answer questions regarding these matters!  Additionally, please allow that "typos" / errors / changes may occur at this site and / or other sites, herein referred / linked to...  Information is presented only for your convenience.  Any corrections or suggestions are gladly received!  Thanks for visiting our site!   Quigley Team, Realty World - John Horton & Assoc.)

General Warranty Deed: A deed in which the grantor (seller) agrees to protect the grantee (buyer) against any other claim to title of the property. See also warranty deed.    (Top)

Government National Mortgage Association (GNMA, Ginnie Mae): A government agency part of HUD that buys VA and FHA loans from lenders, securitizes them and sells Ginnie Mae securities to investors.

Grantee: That party in the deed who is the buyer or recipient.

Grantor: That party who is the seller or the giver.

Graduated Payment Mortgage (GPM): A mortgage that has lower payments initially (with potential negative amortization) which increase each year until the loan is fully amortized.   (Top)

Grandfather Clause: The clause in a law permitting the continuation of a use, business, etc., which was permissible but because of a change in the law is now no longer permissible.

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