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Lease Definitions & Terms

G

General lien

A lien on all property, both real and personal, of a debtor.


Graduated lease

A lease that provides for specific increases or decreases in rent at definite times during the term of the lease.


Grantee

A person to whom an interest in land is conveyed by deed, grant or other written instrument.


Grantor

A person who transfers his or her interest in land to another by a written instrument.


Gross rent multiplier

A figure that produces an estimate of the property's value when used as a multiplier of the gross income of a property.


Ground lease

A lease (usually of long duration) of land to a tenant who covenants to erect a building on the premises. The building is security for rentals. If the tenant defaults, the landlord may foreclose on the lease (see Subordinated ground lease).