| General Agent - An agent who is authorized by his/her principal to perform a broad range of acts, usually all acts necessary in connection with a particular business or venture. |
| General Assembly - The legislative branch of the state government of North Carolina. It is charged by the North Carolina Constitution with the responsibility of enacting the statutory law for the state. |
| General Contractor - The contractor in general control and supervision of the subcontractors in a construction project. Also called the Prime Contractor. |
| General Lien - A lien that attaches to any real or personal property owned by a person in the county in which the lien is filed. A properly filed judgment lien, for example, is a lien against all property owned by the debtor in the county in which the lien is filed. Compare Specific Lien. |
| General Warranty Deed - A deed whereby the grantor agrees to protect the grantee against the valid claims of all persons whomsoever with respect to the land granted. |
| Gift Deed - See Deed of Gift. |
| G.I. Loan - A loan guaranteed by the Veterans Administration under the Servicemen Readjustment Act of 1944, as amended. Only honorably discharged veterans and their widows are eligible. See also VA Mortgage Loan. |
| Good Faith - The absence of bad faith or evil intent. An intention to deal honestly. Even though good faith is exercised by a real estate agent, the agent may nonetheless be liable for negligent misrepresentation or nondisclosure (omission). |
| Good Faith Estimates Disclosure - A document provided by the lender to a borrower under RESPA at the time of the loan application or within three days thereafter containing good faith estimates of closing service charges likely to be incurred by the borrower. |
| Government National Mortgage Association (GNMA or "Ginnie Mae") - A government organization under the jurisdiction of HUD that plays an important role in the secondary mortgage market by attracting capital into the real estate finance market through the sale of securities backed by pools of mortgages, the timely payment of which are guaranteed by GNMA. |
| Government Survey System - Also known as the Rectangular Survey System, this system of land description is used extensively in Midwestern and western states. |
| Graduated Lease - A lease calling for systematic increases in rental at regular intervals over the lease term. |
| Graduated Payment Loan - A system of repayment of a mortgage loan whereby month payments start out at a lower amount at first and then increase at stated intervals. |
| Grant - A generic term applicable to all transfers of real property; a technical term used in deeds of conveyance of lands to import a transfer. |
| Grantee - A person to whom real estate is conveyed; the buyer of real estate. |
| Grantor - A person who conveys real estate by deed; the seller of real estate. Also, the person who conveys legal title to a trustee under a deed of trust; the owner of property subject to a deed of trust. |
| Gross Income - The total income from property before any expenses are deducted. |
| Gross Lease - A lease of property whereby the lessor is to pay all property charges regularly incurred through ownership. |
| Gross Rent Multiplier - A figure, used in connection with the income approach method of appraisal, which represents the relationship between gross rental income and value derived by dividing value (represented by sale price) by monthly or annual gross rental income. |
| Ground Lease - A lease of land only that involves the separation of ownership of the land from ownership of the buildings and improvements on the land. |
| Ground Rent - The rent or earnings paid or attributable for the right of use and occupancy of a parcel of unimproved land; that portion of the total rental paid that is considered to represent a return upon the land only. |
