Glossary - G

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Government mortgage: A mortgage that is insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) or the Rural Housing Service (RHS).

Grace period: An agreed-upon time after an obligation is part due during which a party can perform without being considered in default.

Grantee: The person to whom an interest in real property is conveyed.

Grantor: The person conveying an interest in real property.

Ground rent: The amount of money that is paid for the use of land when title to a property is held as a leasehold estate rather than as a fee simple estate.

Group home: A single-family residential structure designed or adapted for occupancy by unrelated developmentally disabled persons. The structure provides long-term housing and support services that are residential in nature.