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Grandfather Clause
Grandfather Clause The clause in a law permitting the continuation of a use, business, etc., which was permissible but because of a change in the law is now no longer permissible.
RELATED TERMS--------------------------------------
Use
The specific purpose for which a parcel or a building is intended to be used or for which it has been designed or arranged.
Change
The appraisal principle that holds that no physical or economic condition remains constant.
SIMILAR TERMS--------------------------------------
Granada property
Property in Granada, Spain. Apartments, flats, houses, offices and other property in Granada.
Grand Prairie property
Property in Grand Prairie, USA. Apartments, flats, houses, offices and other property in Grand Prairie.
Grand Rapids property
Property in Grand Rapids, USA. Apartments, flats, houses, offices and other property in Grand Rapids.
Grand Turk property
Property in Grand Turk, the Turks and Caicos Islands. Apartments, flats, houses, offices and other property in Grand Turk.
Granny flat
Slang term for a separate unit in a house or above the garage, which in the past may have been occupied by an elderly relative.
Grant
To bestow or transfer an interest in real property by deed or other instrument
Grant deed
A type of deed in which the grantor warrants to the grantee, that he has not previously conveyed the estate, that he has not encumbered the property (except as noted in the deed) and that he will convey any title to the property he may later acquire.
Grantee
The person to whom an interest in real property is conveyed.
Granting clause
Words in a deed of conveyance that state the grantor's intention to convey the property at the present time. This clause is generally worded as "convey and warrant," "grant," "grant, bargain and sell" or the like.
Grantor
That party in the deed that is the seller or giver.
PREVIOUS AND NEXT TERMS--------------------------------------
Grade
The elevation of land above level ground.
Grade level
The flat or sloping surface upon which a house is built.
Graduated commission splits
Other companies have graduated commission splits based on a salesperson's achieving specified production goals.
Graduated lease
A lease, generally long-term in nature, in which rent varies depending upon future contingencies
Graduated-payment mortgage (GPM)
A loan in which the monthly principal and interest payments increase by a certain percentage each year for a certain number of years and then level off for the remaining loan term.
Grandfather Clause
Granny flat
Slang term for a separate unit in a house or above the garage, which in the past may have been occupied by an elderly relative.
Grant
To bestow or transfer an interest in real property by deed or other instrument
Grant deed
A type of deed in which the grantor warrants to the grantee, that he has not previously conveyed the estate, that he has not encumbered the property (except as noted in the deed) and that he will convey any title to the property he may later acquire.
Grantee
The person to whom an interest in real property is conveyed.
Granting clause
Words in a deed of conveyance that state the grantor's intention to convey the property at the present time. This clause is generally worded as "convey and warrant," "grant," "grant, bargain and sell" or the like.
This dictionary contains 6433 terms. |
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