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Real estate glossary


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Term Definition
GOOD FAITH OR MORTGAGE SAVINGS clauseA clause in CC & R's which provides that " a violation thereof shall not defeat or render invalid the lien of any mortgage or deed of trust made in good faith and for value."
 
GOOD FAITH PURCHASER OR MORTGAGEEA person who buys or lends in good faith, that is, without notice of any existing problem, where value is paid or lent.
 
GRANTA transfer of real estate, between individuals, by deed. A transfer of real estate from a sovereign is accomplished by patent or royal decree.
 
GRANT DEEDOne of the many types of deeds used to transfer real property. Contains warranties against prior conveyances or encumbrances. When title insurance is purchased, warranties in a deed are of little practical significance.
 
GUARDIANA person appointed by a court to manage the person and/or property of one who is legally incompetent to handle his/her own affairs.
 


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