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Glossary Of Real Estate Terms
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Glossary G


GE Capital Mortgage Insurance Company:

The only private sector source of mortgage insurance to lenders in Canada.

Grant: 
A term used in legal and other formal documents to agree to give, to do or allow something asked for. In real estate, grant is a tehnical term used in deeds of conveyance to indicate a transfer of an interest or estate in land.
Grantee:
The party to whom an interest in real property is conveyed (the entity receiving title to a piece of real estate, e.g., the buyer.

Grantor:
An individual or institution who conveys or transfers ownership of property, e.g., the seller.

Gross Debt Service: 
The amount of money needed to pay principal, interest, taxes and sometimes, energy costs. If the dwelling unit is a condominium, all or a portion of common fees are included, depending on what expenses are covered.

Gross Debt Service Ratio (GDS):
The percentage of gross household income which you will be using to pay for the mortgage payment including property taxes. A rule of thumb is that GDS should not exceed 30%.



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