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Currently displaying definitions for words starting with - G
- Every sort of inheritable real or personal property. Incorporeal hereditaments are easements, etc, which adhere to lad on transfer.
- Grace Period
- A period when a mortgage payment or other debt becomes past due, and before it goes into default. Most mortgages provide for a specified period of time when it can be paid without penalty or default.
- Green Title
- The ownership of property, or the document showing evidence of ownership of a property. In Western Australia the most common form of title in the residential property market is the green title. A green title is the common name given to the traditional block of land, which is not affected by owners of adjoining properties.
- Gross Leasable Area
- Used by Owners, Architects, etc, for the purpose or establishing the rentable areas occupied by tenants, particularly in shopping centres, retail stores, warehouses and industrial buildings. Gross leasable areas are measurements of all floors occupied by a tenant, for exclusive use, from the centre line of joint partitions or walls and from outside faces of external walls or the building alignment including shop fronts.
- Gross Lease
- A lease whereby the landlord pays for all repairs, taxes and operating expenses incurred through ownership. It is the opposite of a net lease in which these costs are borne by the lessee.
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