GRANTEE
One to whom a grant is made. Generally, the buyer.
GRANTOR
One who grants property or property rights.
GRANTOR-GRANTEE INDEX
The record of the passing of title to all the properties in a country as kept by the county recorder’s office. Property is checked by tracing the names of the sellers and buyers (chain of title). Title companies usually have more efficient methods by keeping records according to property description, rather than people’s names.
GRAPH
A diagram representing statistical data by the use of dots and lines to show a relationship among things.
GRAVEL
Loose rock about two millimeters in diameter, found in great quantity, and used for roadbeds, as a surface or under paving.
GRAVEL PIT
An excavation from which gravel is removed. See also:Borrow Pit.
GRAVEYARD
See: Cemetery.
GRAVITY FURNACE
A hot air furnace which circulates by the different weights of hot and cold air, rather than by a fan.
GREEN LUMBER
Unseasoned lumber, having a higher content of moisture than that of seasoned or air-dried lumber.
GREENBELT
A landscaped area surrounding a development to separate and protect it from a neighboring incompatible use, such as separating office buildings from an industrial park.
GRID
(1) A network of pipes (as for the distribution of water or gas). (2) A network of uniformly spaced horizontal lines, as on a map or chart, used for locating points by coordinates. (3) A chart used by insurance companies and lenders for rating property, risk of the borrower, neighbor-hood, etc.
GRIDIRON PATTERN (GRIDIRON PLAN)
A layout of streets in a subdivision or city which resembles a gridiron.
GROIN
(1) In architecture, the curved point at which arched ceilings or roofs meet or intersect each other. (2) A structure, usually of pilings, used to resist shifting of coastal sands.
GROSS
Total, with no allowances or deductions, such as gross acre, gross lease, gross income, gross sales, etc.
GROSS ACRE
An acre (43,560 sq. ft.). Distinguished from a net (usable) acre.
GROSS AREA
In building measurement, the outside dimensions determine the gross area, irrespective of the area inside actually usable or rentable.
GROSS EFFECTIVE INCOME
See: Adjusted Gross Income.
GROSS INCOME
The scheduled (total) income, either actual or estimated, derived from a business or property.
GROSS INCOME MULTIPLIER
A figure which, when multiplied by the annual gross income, will theoretically determine the market value. A general rule of thumb which varies with specific properties and areas.
GROSS LEASE
A lease which obligates the lessor to pay all or part of the expenses of the leased property, such as taxes, insurance, maintenance, utilities, etc.
GROSS NATIONAL PRODUCT (GNP)
The money value of all goods and services produced by a nation’s economy for a given period of time.
