grantee
The person to whom an interest in real property is conveyed. |
grantor
The person conveying an interest in real property. |
group home
A single-family residential structure designed or adapted for occupancy by unrelated
developmentally disabled persons. The structure provides long-term housing and
support services that are residential in nature. |
guaranteed mortgage
A mortgage that is guaranteed by a third party. |
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| Glossary
of Real Estate Terms - H |
home equity line of
credit
A mortgage loan, which is usually in a subordinate position, that allows the borrower
to obtain multiple advances of the loan proceeds at his or her own discretion,
up to an amount that represents a specified percentage of the borrower's equity
in a property. |
home inspection
A thorough inspection that evaluates the structural and mechanical condition of
a property. A satisfactory home inspection is often included as a contingency
by the purchaser. |
homeowners' association
A non-profit association that manages the common areas of a planned unit development
(PUD) or condominium project. In a condominium project, it has no ownership interest
in the common elements. In a PUD project, it holds title to the common elements.
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homeowner's insurance
An insurance policy that combines personal liability insurance and hazard insurance
coverage for a dwelling and its contents.
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