A voluntary transfer of property without valuable consideration.

A gift made in contemplation of death. The gift is conditioned upon the death of the donor and may be revoked before the donor’s death.

A deed for nominal consideration.

A letter to HUD from the donor (giver) stating that a gift of money has been made to the buyer in order to purchase specific property. The relationship of the donor and donee is stated, as well as the amount of the gift.

A federal and sometimes a state tax on inter vivos transfers without consideration.

Use of ornamentation in architecture, especially residential, which adds to emotional appeal, rather than functional value.

See: GNMA.

(1) One of the heavy beams supporting flooring joists. (2) A metal framing member of a series of heavy supports for a building, bridge, etc.

A horizontal bracing member, running between columns or other vertical members to stiffen the framing.

A usually transparent or translucent substance, formed by the fusion of some silica, such as sand. Glass is colored by the addition of metallic oxides, and comes in a great variety of shapes and sizes.

A building block of hollow glass, used as a decorative wall, but not usually a bearing wall.

Insulation made in sheets from glass fibers, covered with water resistant or asphalt treated paper.

To finish with a glossy surface.

A brick having a glazed (glossy) surface.

Beams composed of layers of wood, pressed and glued together, and used to support roof rafters.

Government National Mortgage Association. A federal association, working with F.H.A., which offers special assistance in obtaining mortgages, and purchases mortgages in a secondary capacity.

A method of purchasing GNMA securities through “puts” and “calls”. A GNMA Call Option is the right to buy GNMA securities at a specific yield for a specified time. A Put Option is the right to sell GNMA securities at a specific yield for a specified time. The buyer pays for the option and may exercise it, not exercise it, or sell it.

A mortgage lender qualified to participate in the Ginnie Mae Mortgage Backed Securities Program.

Mortgage-backed securities insured by the Government National Mortgage Association (GNMA). (See: Mortgage-backed Securities).

Something done with good intentions, without knowledge of fraudulent circumstances, or reason to inquire further.

An estimate of all closing fees including pre-paid and escrow items as well as lender charges.