Greased Lease Back

The disposal of the interest on a property by a freehold or leasehold owner where the rent is geared to a fixed percentage of some variables.

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Gated Community

(1)It is a modern residential community or housing estate having strictly controlled entrances for pedestrians and automobiles, and often characterized by a closed perimeter of walls. (2)A neighborhood or group of neighborhoods, usually surrounded by masonry walls, restricting access through the use of a manned guard station or electronically operated gates. The electronic gates may […]

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Guardian

One who guards or cares for another person’s rights and properties. A guardian has legal custody of the affairs of a minor or a person incapable of taking care of his or her own interests, called a ward.

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Guaranteed sale plan

An agreement between the broker and the seller that if the seller’s real property is not sold before a certain date, the broker will purchase it for a specified price.

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Ground lease

A lease of land only, on which the tenant usually owns a building or is required to builder her or his own building as specified in the lease. Such leases are usually long-term net leases; a tenant’s rights and obligations continue until the lease expires or is terminated through default.

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Gross lease

A lease or property under which a landlord pays all property charges regularly incurred through ownership, such as repairs, taxes, insurance, and operating expenses. Most residential leases are gross leases.

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