GLOSSARY of American & Mexican Real Estate Terms
One authorized to transact all of the principal’s affairs within the context of a broad commercial or other kind of endeavor. Property manager.
A lien that attaches to all property owned by an individual. Real and personal.
One which is free from encumbrances such as liens, pending litigation and other such defects.
Graduated Lease Provisions
This lease provides for periodic step increases in the rental payments.
Graduated Payment Mortgage (GPM):
A new financing technique for residential real estate in which monthly payments start at a lower rate and increase periodically over the life of the mortgage; FHA 245.
Creating an exemption from application of a new law due to previously existing circumstances; non-conforming use.
Transferring real estate by means of a deed.
Grantee – Cesionario
Purchaser or donee receiving title to property.
Grantor – Otorgante
Owner making conveyance of title or interest in property.
The actual income received from property before the deduction for any expenses.
Gross Income Multiplier (GIM)
A method of appraising income-producing property based on a multiple of the annual gross income; also called a gross rent multiplier.
Gross Rent Multiplier (GRM)
A method of appraising single family or duplexes based on the monthly gross income.
Guarantee – Aval
An assurance for the fulfillment of a condition.