Glossary of terms used on this site
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| Term | Definition |
|---|---|
| Gap Loan |
A loan that fills the difference between the first loan and the full amount of the permanent loan.
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| Geography |
The physical characteristics of an area. The study of the earth and its features.
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| Grade |
The slope of land around a building.
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| Graduated Lease |
A lease which provides that the rent will vary depending upon future contingencies, such as a periodic appraisal, the tenant’s gross income or simply the passage of time.
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| Graduated Payment Loan |
A loan that provided for partially-deferred payments of principal during the first five years of the loan term after which the principal and interest payment is substantially higher in order to make up for the principal portion of the payments that were partially-deferred.
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| Gross Income |
The total incomes from a property before any expenses are deducted.
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| Gross Lease |
A lease in which the tenant pays a flat sum for rent out of which the landlord must pay all expenses such as taxes, insurance, maintenance, utilities, etc.
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| Gross Sales |
The total amount of sales for a certain period of time before any type of deductions are taken out.
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| Ground Lease |
A legal contract for the lease of land; contains an agreement that the lessee is obligated to pay rent each year for the use of the land for the duration of the contract; the lessee usually builds on the land but the buildings so constructed must be turned over to the land’s owner at the termination of the contract. Also known as Land Lease.
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| Growing-Equity Loan |
A fixed rate mortgage on which the monthly payments increase over time according to a set schedule. The interest rate on the loan does not change, and there is never any negative amortization.
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| Guaranty |
The assurance given by one party that another party will fully perform their contractual duties.
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