Real Estate Terms G

Real Estate Terms Glossary

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"Good Faith" or "Mortgage Savings" CLAUSE: A 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 Mortgagee: A person who buys or lends in good faith, that is, without notice of any existing problem, where value is paid or lent.

Grant: A transfer of real estate, between individuals, by deed. A transfer of real estate from a sovereign is accomplished by patent or royal decree.

Grantee: See Deed.

Grantor: See Deed.

Grant Deed: One 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.

Guardian: A 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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