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Gazumping
Gazumping Occurs when a buyer turns down an already-accepted offer in favour of a higher bid.
RELATED TERMS--------------------------------------
Offer
A proposal to purchase property at a specified price and terms.
Bid
An offer made in person to buy at a given price a thing which is being sold by auction.
SIMILAR TERMS--------------------------------------
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Gable roof
A ridged roof that forms a triangle at each end.
Gag rules
A provision in contracts signed by new buyers that prohibits the owners from publicizing complaints about the builder.
Gambrel roof
A roof with two slopes, often seen on barns.
Gap
A defect in the chain of title of a particular parcel of real estate; a missing document or conveyance that raises doubt as to the present ownership of the land.
Garn-st. Germain bill
Or the Depository Institutions Deregulation and Monetary Control Act of 1980 which authorized the deregulation of banks and savings institutions. Allowed savings and loan associations to offer checking-type accounts; to issue credit cards. Established loan loss reserve requirements.
Gazumping
General agent
One authorized by a principal to perform any and all acts associated with the continued operation of a particular job or a certain business of the principal.
General contractor
The prime contractor who contracts for the construction of an entire building or project, rather than just a portion of the work.
General index
A county recorder's office index used by title company examiners when searching the chain of title of a property. The examiner uses the index to research all the grantors and grantees in the chain of title.
General law title
There are two systems of providing title to land. One is the Torrens Title System which uses government -recorded certificates of title. The other is the very much older system under which title is proved by showing what is known as a good root of title, that is a series of documents showing the whole of the history of the land over a prescribed period and showing by that history who is currently the lawful proprietor of the land.
General lien
A lien such as a tax lien or judgment lien, which attaches to all property of the debtor rather than the lien of, for example, a trust deed, which attaches only to a specific property.
This dictionary contains 6433 terms. |
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