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Group License

Definition:   a right granted a sales associate or broker associate to work various properties owned by affiliated entities under one owner developer. Pronunciation:   \ˈgrüp\ \ˈlī-sən(t)s\ Used in a Sentence:   The sales associate had a group license so she could work at the different communities the developer was building.
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Ground Lease

Definition:    A lease of land alone, sometimes secured by improvements placed on the land. Pronunciation:   \ˈgrau̇nd\ \ˈlēs\ Used in a Sentence:   We signed a ground lease for the property we wanted to build our warehouse on.
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Gross Rent Multiplier

Definition:   A rule of thumb for estimating the market value of income-producing residential property. Pronunciation:   \ˈgrōs\ \ˈrent\\ˈməl-tə-ˌplī(-ə)r\ Used in a Sentence:   The agent used the gross rent multiplier when estimating the value of the apartment building we were interested in buying.
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Gross Lease

Definition:  A lease of property in which the lessee pays a fixed rent and the lessor pays all of the expenses associated with the property. Pronunciation:   \ˈgrōs\ \ˈlēs\ Used in a Sentence:   We were able to sign a gross lease on the office space that we wanted.
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Gross Income Multiplier

Definition:  a rule of thumb for estimating the market value of commercial and industrial properties,  the ratio to convert annual income into market value. Pronunciation:   \ˈgrōs\\ˈmär-kət\\ˈməl-tə-ˌplī(-ə)r\ Used in a Sentence:   The appraiser applied a gross market multiplier when estimating the value of the warehouse.
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Green Belt Law

Definition:  legislation that authorizes county property appraisers to assess land used for agricultural purposes according to its current value as agricultural land. Pronunciation: Used in a Sentence:   Florida’s Green Belt Law protects farmers from having taxes increased unfairly because the land might be suited for urban growth.
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Grantor

Definition:   the person transferring title to, or interest in, real property; seller. Pronunciation:   \ˈgran-tər, -ˌtȯr; gran-ˈtȯr\ Used in a Sentence:   Once the grantor had signed the deed the property was officially ours.
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Granting Clause

Definition:   the provision in a deed that specifies the names of the parties involved, the words of conveyance and a description of the property. Pronunciation:   \ˈklȯz\ Used in a Sentence:   We were careful to read the granting clause portion of the deed to confirm all information was correct.
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Grantee

Definition:   The party who receives a conveyance of real property; buyer. Pronunciation:  \gran-ˈtē\ Used in a Sentence:    At the closing the grantee received the deed to the property.